Check Point Software Climbs 8% As Profit, Revenue Beat Street

Shares of Check Point Software Technologies Ltd. (CHKP) are rising more than 8% Thursday morning after reporting better-than-expected third-quarter results.

Net income was $184 million or $1.47 per share in the quarter compared with $187 million or $1.40 per share a year ago.

Excluding one-time items, earnings were $1.77 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $1.67 per share.

Revenue for the quarter was $577.6 million, an 8% increase year over year, driven by double-digit growth in Harmony, CloudGuard and Quantum network security gateways. The consensus estimate was for $571.87 million.

CHKP, currently at $125.81, has traded in the range of $107.54-$149.62 in the last 1 year.

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