Check Point Software Q2 profit, revenue beat estimates
JERUSALEM (Reuters) – Check Point Software Technologies reported on Monday a higher-than-expected 2% rise in second quarter net profit and 4% increase in revenue.
Israel-based Check Point said it earned $1.61 perdiluted share excluding one-time items in the quarter, upfrom $1.58 a year earlier. Revenue grew to $526 million, withthe company on its way to top $2 billion for a second straightyear in 2021.
It was forecast to earn $1.56 a share on revenue of $523.8million, according to I/B/E/S data from Refinitiv.
“We’ve seen a 93 percent increase in ransomware attacks, as Gen V attacks are now the new norm,” Chief Executive Officer Gil Shwed said.
Check Point said it bought back 2.7 million shares in thequarter worth $325 million as part of its share repurchaseprogramme.
(Reporting by Ari Rabinovitch)