Cybersecurity company Check Point beats profit expectations
Cybersecurity company Check Point beats profit expectations TEL AVIV, July 30 (Reuters) - Israel-based cybersecurity firm Check Point Software Technologies CHKP.O reported a higher-than-expected rise in quarterly profit on Thursday, boosted by double-digit revenue growth in subscriptions that protect corporate networks from cyber threats.
Second-quarter earnings per share excluding one-off items rose to $2.55 from $2.37 a year earlier. Revenue rose 1% to $674 million.
LSEG estimates: EPS ex items $2.45, revenue $676 million
Security subscriptions revenue in Q2 reached $333 million, up an annual 12%.
In Q2, Check Point bought back 2.5 million of its own shares at a cost of $325 million. In May, Check Point's board authorised a $2 billion expansion of its share buyback programme.
(Reporting by Steven Scheer. Editing by Mark Potter)
((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: X: @StevenMScheer))
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