By Anthony O. Goriainoff
Check Point Software Technologies Ltd. on Thursday reported a 6.9% rise in third-quarter profit and said revenues grew in all key areas with security subscriptions growing by 10%.
The Israel-based cybersecurity company earned a quarterly profit of $200.7 million, or $1.42 a share, compared with $187.8 million, or $1.25 a share for the third quarter of 2019. Analysts polled by FactSet expected $188.8 million for the period.
Excluding items, the company reported an adjusted profit of $1.64 a share for the quarter ended Sept. 30, compared with $1.44 last year.
Sales rose to $509.0 million from $490.9 million the year before, the company said. Sales consensus for the period was $504.0 million, taken from FactSet and based on 24 analysts' forecasts.
"We expanded our Secure Access Service Edge offering during the quarter with the acquisition of Odo Security, a new cloud-based technology that delivers the next generation of secure remote access to enterprises," Chief Executive Gil Shwed said.
Write to Anthony O. Goriainoff at firstname.lastname@example.org
(END) Dow Jones Newswires
October 22, 2020 06:22 ET (10:22 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.