Check Point Cyber Security Surges Past Expectations: Strong Financial Results and a Look at the Future

Israeli cyber security company Check Point has reported strong financial results for the latest quarter, exceeding analysts’ expectations. The company recorded adjusted earnings per share of $2.04, a 13% increase compared to the previous quarter, on revenues of $598.8 million, a 6% increase. Analysts had predicted a profit of $2 per share on revenue of $594.9 million.

Check Point also surpassed its own forecast, expecting adjusted profit of $2 on revenues of $592.5 million for the quarter. For the full year, the company expects revenue growth of about 6% to a range of $2.475-2.625 billion and a net profit of $8.7-9.3 per share. Analysts projected earnings per share of $9.07 on revenues of $2.56 billion for the year.

The market is now waiting for the company’s forecast for the next quarter, with analysts anticipating adjusted profit of $2.16 per share on revenues of $623.3 million.

Despite lower cash reserves ($3.04 billion) and cash flow ($361 million), Check Point bought back $325 million worth of shares in the quarter as it does not distribute dividends to investors.

Founder and CEO Gil Shvid expressed satisfaction with the company’s performance, highlighting strong growth in Infinity Platform contracts and new technologies such as Quantum Force and Harmony SaaS.

Check Point’s stock price is currently at $161 per share, with a market value of $18.2 billion.

In the past year, Shvid’s total salary increased to approximately 17.9 million, primarily in capital compensation.

The company employs around 6,450 people, with almost half in marketing, sales, and business development roles.

Check Point’s stock has seen a 20