Check Point Software Technology (CHKP) Tops Q2 EPS by 14c, Revenues Beat

Check Point Software Technology (NASDAQ: CHKP) reported Q2 EPS of $1.58, $0.14 better than the analyst estimate of $1.44. Revenue for the quarter came in at $506 million versus the consensus estimate of $488.04 million.

Second Quarter 2020:

• Total Revenue: $506 million, a 4 percent increase year over year
• Deferred Revenues: $1,338 million, a 4 percent increase year over year
• GAAP Operating Income: $221 million, representing 44 percent of revenue
• Non-GAAP Operating Income: $253 million, representing 50 percent of revenue
• GAAP EPS: $1.38, a 14 percent increase year over year
• Non-GAAP EPS: $1.58, a 15 percent increase year over year
• Cash flow from operations: $252 million, an 8 percent increase year over year

“We delivered solid second quarter results driven by strong sales execution despite the rising impact of the COVID-19 pandemic. Sales increased across multiple categories and segments, including our advanced technologies such as cloud, endpoint, and high performance network security. We extended our Infinity platform with new Quantum appliances and newly expanded CloudGuard family,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “The new CloudGuard provides Cloud Native Security, a fully-automated platform that enables customers to leverage the speed and agility of the cloud, while utilizing a single pane of glass security management to protect their deployments and workloads.” continued Shwed, “In closing, I would like to thank our customers, partners and employees for their commitment to elevating the level of cyber security and achieving these results in such times.”

For earnings history and earnings-related data on Check Point Software Technology (CHKP) click here.

You May Also Be Interested In

• Check Point joins OpenAI cyber partner program to embed AI models
• Comfort Systems USA names new COO and Chief Strategy Officer
• NVE Corporation names new CEO and expands board to seven members