TEL AVIV (dpa-AFX) - Security software company Check Point Software Technologies Ltd. (CHKP) Wednesday reported a higher second-quarter profit, as total revenues rose 7 percent, with increased revenues from products and software blades subscription driven by strong demand across industries and business segments. Adjusted earnings, as well as revenues beat analysts' expectations.
For the second quarter, the company's net income increased to $159.66 million or $0.83 per share from $151.01 million or $0.76 per share in the same quarter last year.
On a non-GAAP basis, earnings were $0.89 per share, while the company posted $0.83 per share a year ago. On average, 24 analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose 7 percent to $362.60 million from $340.17 million in the prior-year quarter. Twenty two analysts' revenue estimate was $359.45 million for the quarter.
Total revenues from products and software blades were $188.09 million, up from 171.60 million a year earlier. Revenues from software updates and maintenance increased to $174.51 million from $168.57 million reported last year.
Gil Shwed, founder, chairman, and chief executive officer said, 'We had a fantastic second quarter...We saw a nice up-tick in customer wins across the board with several very large customer contracts.'
CHKP closed Tuesday's regular trading at $64.77, up 0.86 percent.
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