Check Point Software Technologies Ltd on Monday reported third-quarter 2023 financial results that surpassed analyst expectations.
The cybersecurity solutions provider saw its earnings per share (EPS) for the quarter improve by 17% to $2.07 on revenue that rose 3% to $596 million.
The analyst consensus forecast was for EPS of $2.02 and revenue of $591.86 million.
The company also said its Security Subscriptions revenues increased 15% year over year to $248 million.
"In the past 60 days, we’ve successfully completed three acquisitions, underscoring our security platform leadership," Check Point Software Technologies CEO Gil Shwed said in a statement.
"The acquisition of Perimeter 81 has provided us a single-vendor SASE solution that delivers twice the speed of competitive solutions while ensuring industry-leading prevention-first security,” he added.
The Israel-based company noted its business continued to operate as planned despite the raging conflict between Israel and Hamas.
Check Point ended the quarter with cash, marketable securities, and short-term deposits of about $3 billion.
Shares of Check Point Software slipped 3% in pre-market trading on Monday but have gained 4% year to date.
Contact Sean at sean@proactiveinvestors.com