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Check Point Software profit and revenue top estimates

Reuters
·1 min read

JERUSALEM, Oct 28 (Reuters) - Check Point Software Technologies beat estimates with a slight gain in third-quarter net profit, boosted by growth in its consolidated cyber security platform and cloud protection products.

Israel-based Check Point on Thursday said it earned $1.65 per diluted share excluding one-off items in the July-September period, up from $1.64 a year earlier. Revenue grew 5% to $534 million, with the company on its way to top $2 billion for a second straight year in 2021.

It was forecast to earn $1.60 a share on revenue of $530 million, according to I/B/E/S data from Refinitiv.

Check Point said it bought back 2.64 million shares in the quarter, worth $325 million, as part of its share repurchase programme. The company said it has expanded the programme by another $2 billion and would continue to buy up to $325 million of its own shares each quarter. (Reporting by Steven Scheer Editing by David Goodman )