Check Point Beat Earnings

This morning, Check Point Software Technologies (CHKP) reported Q4 earnings of $2.02 per share. That’s up from $1.68 one year ago. Check Point also beat estimates for $1.99 per share. Revenue rose 3% to $544 million, which beat estimates of $542.5 million.

“We closed out the last decade with nearly two billion dollars in annual revenues and over one billion dollars in non-GAAP operating income. Over the last decade we introduced our security-as-a-service subscription model, which delivers the most advanced technologies in cyber. In 2019, subscription reached over six hundred million dollars in revenues and was driven by cloud, mobile and zero-day advanced threat prevention technologies,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “We began the new decade with the introduction of Infinity NEXT, the industry’s most comprehensive cyber security platform with over 60 security technologies that support over 50 types of assets including operating systems, cloud workloads, IoT devices, mobile devices and network of any type,” Shwed concluded.

During Q4, Check Point bought back 2.9 million shares for $325 million. The company announced a $2 billion extension to the share buyback program. Check Point didn’t provide any guidance for 2020.

Posted by on February 3rd, 2020 at 9:34 am


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