202202 Aug

Check Point Q2 profit gains on healthy cyber security demand

Summary

Gil Shwed, Chief Executive of Network security provider Check Point Software Technologies, speaks during the annual Cyberweek conference at Tel Aviv University, Israel, June 20, 2016. REUTERS/Amir Cohen/File Photo JERUSALEM, Aug 1 (Reuters) - Check Point Software Technologies (CHKP.O) beat estimates with a 2% gain in second-quarter profit, boosted by double-digit growth in revenue from products and subscriptions to protect cloud and other networks from escalating cyber attacks. "The demand for cyber has remained healthy in the last year, and I hope it will stay that way," Chief Executive Gil Shwed told reporters. Still, he cautioned that there are many uncertainties moving forward due to global economic softness and supply chain issues that have boosted its costs and weighed on its business. Check Point said on Monday that in the April to June period, it earned $1.64 per diluted share excluding one-off items, up from $1.61 a year earlier.

Source: Reuters

Classifications

Companies