Earnings ·
Reports Q3 revenue of $670M and EPS of $1.82 as security subscriptions rise 11%
CHKPCheck Point Software Technologies Ltd
Check Point Software Technologies reported third-quarter revenues of $670 million, a 1 percent decrease year over year, driven by a decline in software updates and maintenance sales offsetting an 11 percent increase in security subscription revenue to $339 million. GAAP diluted earnings per share were $1.82, down 45 percent from the prior-year period which included a one-time tax benefit; excluding that item, EPS increased 1 percent. Non-GAAP operating income was $251 million, representing 37 percent of total revenues, while remaining performance obligations grew 5 percent to $2.5 billion. The company repurchased approximately 2.5 million shares for $325 million during the quarter and holds $4.1 billion in cash and marketable securities. Check Point Software Technologies Ltd. is a global cyber security leader protecting more than 100,000 organizations worldwide.