July 24, 2019 / 9:09 AM / 4 months ago

Check Point Software Q2 profit marginally tops expectations

TEL AVIV, July 24 (Reuters) - Network security provider Check Point Software Technologies reported quarterly net profit that marginally beat expectations, boosted by higher security subscriptions.

Check Point earned $1.38 per diluted share excluding one-time items in the second quarter, up from $1.37 a year earlier. Revenue grew 4 percent to $488 million, the Israel-based company said on Wednesday.

It was forecast to earn $1.37 a share on revenue of $488 million, according to I/B/E/S data from Refinitiv.

"Second-quarter results were driven by 13% growth in our security subscriptions revenues, which included our advanced threat prevention and our CloudGuard family of products," Chief Executive Gil Shwed said.

Check Point said it bought back 2.8 million shares worth $325 million as part of its share repurchase programme. (Reporting by Tova Cohen Editing by Steven Scheer)

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