Shares of Check Point Software Technologies (CHKP) - Get Check Point Software Technologies Ltd. Report rose Monday, after the Israeli cyber security company reported stronger-than-expected earnings for the first quarter.
Revenue rose 4% to $507.6 million in the quarter from a year ago, beating the FactSet analyst consensus of $502.0 million.
Profit registered $182.9 million, or $1.33 a share, up from $178.7 million, or $1.23 a share, last year. Adjusted earnings per share totaled $1.54, besting the analyst consensus of $1.50.
Cash flow topped estimates, too, climbing 4.6% to $375 million. That compares to the analyst consensus of $360.6 million.
Check Point recently traded at $121.61, up 1.5%. It has eased 0.6% over the past six months.
“We are pleased with our first quarter,” said Chief Executive Gil Shwed. “Revenue and non-GAAP earnings per share were toward the high-end of our guidance with CloudGuard bolstering this success with nice double-digit growth.”
Further, “The cyber threat landscape is reaching new levels of risk and requires a holistic security architecture to prevent the next cyber pandemic. Our Infinity architecture can uniquely address these needs.”
In other technology security news, business cybersecurity firm KnowBe4 (KNBE) - Get KnowBe4 Report became the first cybersecurity company to go public in 2021 on Thursday, raising more than $150 million in its Nasdaq debut with its shares surging at the start of trading.
Also last week, David Dierking offered an analysis of four top cybersecurity ETFs on The Street.com: First Trust Nasdaq Cybersecurity ETF (CIBR) - Get First Trust NASDAQ Cybersecurity ETF Report, the ETFMG Prime Cyber Security ETF (HACK) - Get ETFMG Prime Cyber Security ETF Report, the iShares Cybersecurity & Tech ETF (IHAK) - Get iShares Cybersecurity & Tech ETF Report and the Global X Cybersecurity ETF BUG.