Check Point Software Q1 profit tops estimates

Check Point Software Technologies reported on Monday higher than expected profit for the first quarter of 2023, boosted by growth in its consolidated cyber security platform that prevents attacks across networks, mobile and the cloud.

The Israeli-based company said it earned $1.80 per diluted share excluding one-off items in the January-March period, up 15% from $1.57 a year earlier. Revenue grew 4% to $566 million.

It was forecast to earn $1.74 a share on revenue of $569 million, according to I/B/E/S data from Refinitiv.

Check Point said it bought back 2.6 million shares in the quarter, worth $325 million, as part of its ongoing $2 billion share repurchase programme. Reuters