Cybersecurity company Check Point beats profit expectations

TEL AVIV, July 30 (Reuters) - Israel-based cybersecurity firm Check Point Software Technologies reported a higher-than-expected rise in quarterly profit on Thursday, boosted by double-digit revenue growth in subscriptions that protect corporate networks from cyber threats.

• Second-quarter earnings per share excluding one-off items rose to $2.55 from $2.37 a year earlier. Revenue rose 1% to $674 million.
• LSEG estimates: EPS ex items $2.45, revenue $676 million.
• Security subscriptions revenue in Q2 reached $333 million, up 12% year over year.
• In Q2, Check Point bought back 2.5 million of its own shares at a cost of $325 million. In May, Check Point's board authorised a $2 billion expansion of its share buyback programme.