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Check Point Software Reports Over 22% Eps Growth in the Second Quarter
SAN CARLOS, Calif., July 26, 2023 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the
About this update from Check Point Software Technologies Ltd.
[{"type":"text","content":"SAN CARLOS, Calif., July 26, 2023 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the second quarter ended June 30, 2023. Second Quarter 2023: Total Revenues: $589 million, a 3 percent increase year over yearProduct and License Revenues: $117 million, a 12 percent decrease year over yearSecurity Subscription Revenues: $239 million, a 14 percent increase year over yearDeferred Revenues: $1,774 million, a 7 percent increase year over year GAAP Operating Income: $221 million, representing 38 percent of revenuesNon-GAAP Operating Income: $263 million, representing 45 percent of revenuesGAAP EPS: $1.70, a 25 percent increase year over yearNon-GAAP EPS: $2.00, a 22 percent increase year over year “The second quarter delivered robust profitability with over 22 percent growth in EPS. Our platform security strategy realized continued success, as Infinity revenues surpassed 10 percent of total revenues for the quarter,” said Gil Shwed, Founder and CEO of Check Point Software. “This was further emphasized by a 14 percent increase in security subscription revenues that encompasses our advanced security solutions such as ThreatCloud AI, CloudGuard, and Harmony E-mail. This mitigated some of the impact from customers delaying network security refresh projects. As we move forward, our priority remains driving revenue growth by delivering a prevention-first approach, with a focus on collaborative cyber security where multiple products work in concert to protect against the most sophisticated threats.\" Financial Highlights for the Second Quarter of 2023: Total Revenues:$589 million compared to $571 million in the second quarter of 2022, a 3 percent increase year over year.GAAP Operating Income: $221 million compared to $209 million in the second quarter of 2022, representing 38 percent and 37 percent of total revenues in the second quarter of 2023 and 2022, respectively.Non-GAAP Operating Income: $263 million compared to $249 million in the second quarter of 2022, representing 45 percent and 44 percent of total revenues in the second quarter of 2023 and 2022, respectively.GAAP Taxes on Income: $41 million compared to $45 million in the second quarter of 2022.GAAP Net Income: $202 million compared to $174 million in the second quarter of 2022.Non-GAAP Net Income: $238 million ...