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Check Point Software (CHKP) 2021 Q1 Financial Results Preview
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Check Point: Q1 Earnings Snapshot
April 26, 2021 GMT
TEL AVIV, Israel (AP) Check Point Software Technologies Ltd. (CHKP) on Monday reported first-quarter net income of $182.9 million.
The Tel Aviv, Israel-based company said it had net income of $1.33 per share. Earnings, adjusted for stock option expense and amortization costs, came to $1.54 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The data security company posted revenue of $507.6 million in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $502.1 million.
Check Point shares have dropped almost 10% since the beginning of the year. The stock has risen 15% in the last 12 months.
Check Point Software stock set to rally after profit, revenue rise above expectations MarketWatch 2 hrs ago
MARKET PULSE
Shares of Check Point Software Technologies Ltd. were indicated up nearly 2% in premarket trading Monday, after the Israel-based cyber security company reported first-quarter profit and revenue that rose above expectations. Net income rose to $182.9 million or $1.33 a share, from $178.7 million, or $1.23 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $1.54, above the FactSet consensus of $1.50. Total revenue rose 4% to $507.6 million, beating the FactSet consensus of $502.0 million. Cash flow grew 4.6% to $375 million, above the FactSet consensus of $360.6 million. The cyber threat landscape is reaching new levels of risk and requires a holistic security architecture to prevent the next cyber pandemic, said Chief Executive Gil Shwed. Our Infinity architecture can uniquely address these needs and conso
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