Israeli cyber giant Check Point presented an increase in revenues of 9% to 571 million dollars

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by Ifi Reporter Category:Financial Aug 1, 2022

The Israeli cyber giant Check Point presented its second-quarter report and managed to overtake the analysts' forecasts in the key indicators: the company's revenues jumped by 9% to 571 million dollars, and the diluted earnings per share (the key figure in this article which is Non -GAAP) was $1.64, compared to average expectations for revenues of $560 million and earnings per share of $1.62.
"We are satisfied with our second quarter results," said the company's founder and CEO, Gil Shvid, adding that "total revenues achieved a growth of 9% - more than double the growth rate a year ago." He noted that its revenues from the sale of licenses and subscriptions increased by 12% and 14%, respectively, to $133 and $210 million, leading to significant growth in total revenue.Maintenance revenue also rose, albeit by a modest rate of just over 2%, to $228 million.
However, in the bottom lines, the company's profits decreased compared to the corresponding quarter last year: the operating profit decreased by almost 6% to 209 million dollars, and the net profit decreased by a little more than 6% to 174 million dollars.
"During the last quarter, cyberattacks increased by 32%, while advanced attacks such as ransomware increased by 59%, highlighting why cybersecurity is so necessary to keep our world running," Schweid added. "Our strategic vision for a unified and prevention-focused security architecture is more relevant than ever to the fight against today's cyber challenges."

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