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Check Point Software Technologies Reports 2020 Second Quarter Financial Results
SAN CARLOS, Calif., July 22, 2020 (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 22, 2020 (GLOBE NEWSWIRE) -- Check Point® Software Technologies Ltd. (NASDAQ: CHKP), today announced its financial results for the second quarter ended June 30, 2020.\n Second Quarter 2020: Total Revenue: $506 million, a 4 percent increase year over yearDeferred Revenues: $1,338 million, a 4 percent increase year over year GAAP Operating Income: $221 million, representing 44 percent of revenueNon-GAAP Operating Income: $253 million, representing 50 percent of revenueGAAP EPS: $1.38, a 14 percent increase year over yearNon-GAAP EPS: $1.58, a 15 percent increase year over yearCash flow from operations: $252 million, an 8 percent increase year over year “We delivered solid second quarter results driven by strong sales execution despite the rising impact of the COVID-19 pandemic. Sales increased across multiple categories and segments, including our advanced technologies such as cloud, endpoint, and high performance network security. We extended our Infinity platform with new Quantum appliances and newly expanded CloudGuard family,” said Gil Shwed, Founder and CEO of Check Point Software Technologies. “The new CloudGuard provides Cloud Native Security, a fully-automated platform that enables customers to leverage the speed and agility of the cloud, while utilizing a single pane of glass security management to protect their deployments and workloads.” continued Shwed, “In closing, I would like to thank our customers, partners and employees for their commitment to elevating the level of cyber security and achieving these results in such times.” Financial Highlights for the Second Quarter of 2020: Total Revenue: $506 million compared to $488 million in the second quarter of 2019, a 4 percent increase year over year.GAAP Operating Income: $221 million compared to $213 million in the second quarter of 2019, representing 44 percent of revenue in the second quarter of 2020 and 2019.Non-GAAP Operating Income: $253 million compared to $242 million in the second quarter of 2019, representing 50 percent of revenue in the second quarter of 2020 and 2019.GAAP Taxes on Income: $43 million compared to $48 million in the second quarter of 2019.GAAP Net Income: $196 million compared to $186 million in the second quarter of 2019.Non-GAAP Net Income: $225 million compared to $211 million in the second quarter of 2019.GAAP Earn...