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
• Check Point had forecast revenue of $660 million to $690 million, and EPS ex-items between $2.40 and $2.50.
• Second-quarter security subscriptions revenue reached $333 million, up an annual 12%.

• Check Point bought back 2.5 million of its own shares at a cost of $325 million in the quarter. In May, Check Point's board authorised a $2 billion expansion of its share buyback programme.
• Its finance chief told reporters that the shekel's strength against the dollar in the second quarter had an impact on its results, mainly a 3% increase in expenses. Check Point, he said, hedges so a similar impact is expected the rest of 2026.
• The company is hiring hundreds of sales representatives around the world, its CEO said.
• Check Point announced the launch of a new AI Network Firewall.