JERUSALEM (Reuters) – Check Point Software Technologies beat estimates with a slight gain in third-quarter net profit, boosted by growth in its consolidated cyber security platform and cloud protection products.
Israel-based Check Point on Thursday said it earned $1.65 per diluted share excluding one-off items in the July-September period, up from $1.64 a year earlier. Revenue grew 5% to $534 million, with the company on its way to top $2 billion for a second straight year in 2021.
It was forecast to earn $1.60 a share on revenue of $530 million, according to I/B/E/S data from Refinitiv.
Check Point said it bought back 2.64 million shares in the quarter, worth $325 million, as part of its share repurchase programme. The company said it has expanded the programme by another $2 billion and would continue to buy up to $325 million of its own shares each quarter.
(Reporting by Steven Scheer; Editing by David Goodman)
