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TEL AVIV - Check Point Software (ETR:SOWGn) Technologies Ltd. (NASDAQ:CHKP) reported better-than-expected second quarter results on Wednesday, with revenue growth driven by strong performance in its emerging technologies portfolio and Quantum Force appliances.
The company’s stock rose 0.76% in pre-market trading following the announcement.
The cybersecurity company posted adjusted earnings per share of $2.37, slightly above analyst estimates of $2.36, and a 9% increase YoY. Revenue reached $665 million, exceeding the consensus estimate of $661.84 million and representing a 6% increase from the same period last year.
"We delivered solid second-quarter results, driven by growth in our emerging technologies portfolio including Email, SASE, and Enterprise Risk Management," said CEO Nadav Zafrir. "Quantum Force appliances continued a double-digit growth trajectory, reflecting strong customer trust in our innovation and prevention-first ethos."
Product and license revenues showed particularly strong growth, increasing 12% YoY to $132 million, while security subscription revenues rose 10% to $298 million. The company’s calculated billings grew 4% to $642 million, and remaining performance obligations reached $2.4 billion, up 6% from the previous year.
Check Point maintained solid profitability with non-GAAP operating income of $271 million, representing 41% of total revenues. Cash flow from operations was $262 million, which included a $50 million benefit from currency hedging transactions.
During the quarter, the company repurchased approximately 1.5 million shares at a total cost of approximately $325 million, continuing its commitment to returning value to shareholders.
The company also strengthened its Infinity platform through the acquisition of Veriti, enhancing its open-garden architecture. Management expressed optimism about the second half of the year, noting strong July indicators and a healthy pipeline.
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