Israel's Check Point Software Q3 revenue slightly misses estimates
CHKP•Check Point Software reported Q3 revenue of $670 million, slightly below the $672.03 million consensus, while adjusted EPS of $2.49 matched expectations. The company repurchased $325 million in shares and expects gradual revenue improvement beginning in Q4.
1. Quarterly results
Q3 revenue fell 1% year over year to $670 million, slightly missing analyst expectations. Adjusted EPS was $2.49, in line with estimates, and the company repurchased $325 million in shares during the quarter.
2. Revenue outlook
Check Point said revenue reached a trough in Q3 and expects gradual improvement beginning in Q4, though the recovery is taking longer than anticipated. The company said leading indicators are improving.
3. Subscription growth
Security subscriptions revenue grew 11% year over year, driven by demand for Email, CTEM and AI Security. The company also recognized a $25 million reduction in R&D expenses due to a new Israeli tax incentive program.
