Check Point Software
said Thursday that it beat Wall Street's fourth-quarter earnings expectations by a wide margin.
The Internet security software company earned $81 million, or 46 cents a share, up from $29.8 million, or 17 cents a share, in the year-ago period. Twenty-two analysts polled by
First Call/Thomson Financial
were calling for the company to earn 38 cents in the quarter.
Revenue jumped to $140.4 million from $67.9 million in the equivalent period last year.
"Our core enterprise business increased and remained strong, and we continued to see consistent sales growth through the managed service provider channel, driven by a growing customer desire to outsource security management, the company said in a statement.
The company also declared a 3-for-2 stock split. The company expects to set the record date on Feb. 1, with the distribution of the additional shares on Feb. 12.
Shares of Check Point rose $14, or 11%, to $140.50 in recent