American Israeli provider of combined hardware and software products Check Point Software Technologies Ltd. (NASDAQ: CHKP) announced its second-quarter adjusted earnings of $2 per share, up by 22% year-over-year and above consensus estimates of $1.90 per share.
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The company generated Q2 revenues of $589 million, a rise of 3% year-over-year versus consensus estimates of $589.66 million.
Gil Shwed, Founder and CEO of Check Point Software commented, “The second quarter delivered robust profitability with over 22 percent growth in EPS. Our platform security strategy realized continued success, as Infinity revenues surpassed 10 percent of total revenues for the quarter. This was further emphasized by a 14 percent increase in security subscription revenues that encompasses our advanced security solutions such as ThreatCloud AI, CloudGuard, and Harmony E-mail.”
Analysts are sidelined about CHKP stock with a Hold consensus rating based on three Buys, 10 Holds, and one Sell.