Check point increased revenues in the 3rd Q to f $ 471 million

Check Point also published its third quarter reports today. The company posted revenue of $ 471 million, an increase of 3.6% over the corresponding quarter. GAAP net income was $ 198 million, compared to $ 192 million in the same quarter last year, and non-GAAP net income excluding accounting items increased 1.8% to $ 219 million. Non-GAAP net income per share was $ 1.38, 2 cents higher than analysts' forecasts.
In the third quarter, Check Point generated $ 249 million in cash from current operations and acquired its own shares for $ 300 million during the quarter. Check Point is traded on Nasdaq at $ 17.7 billion.
"In the third quarter, we reached the top of our forecasts, with US and European regions stronger than our expectations," Schweid said.
In the first three quarters of 2018, Check Point's revenues grew by 3.1% to $ 1.39 billion. Revenue from products and licenses totaled $ 365 million during this period, down from $ 393 million in the same period in 2017. Revenue from security services grew from $ 350 million to $ 396 million, and software and maintenance revenue increased from $ 605 million to $ 630 million. Since the beginning of the year, non-GAAP net income increased 2.9% to $ 647 million.
"In the third quarter, we reached the top of our forecasts, with US and European regions stronger than our expectations," Schweid said.
The acquisition will have some impact on the net profit, which will be reduced by 2-4 cents in the fourth quarter. GAAP earnings per share will be $ 1.56-1.67, with analysts' forecasts of $ 515 million and net earnings of $ 1.65 per share.