Israel's Check Point Software Q2 profit beats estimates

TEL AVIV, July 23 Wed Jul 23, 2014 5:05am EDT

TEL AVIV, July 23 (Reuters) - Internet and network security provider Check Point Software Technologies reported quarterly profit that topped expectations on strong demand for its products and software blades subscriptions.

Check Point earned 89 cents a share excluding one-time items in the second quarter, up from 83 cents a year earlier. Revenue grew 7 percent to $363 million, the Israel-based company said on Wednesday.

Check Point was forecast to have earned 87 cents a share on revenue of $359.5 million, according to Thomson Reuters I/B/E/S.

"Total revenues from products and software blades subscription delivered 10 percent growth, which was driven by strong demand across industries and business segments," Chief Executive Officer Gil Shwed said. "We saw a nice uptick in customer wins across the board with several very large customer contracts."

Check Point last year launched a new software blade - modular software building blocks that are bought on an annual subscription basis - that stops unwanted malware, or malicious software. It also introduced a software blade for security and compliance monitoring. (Reporting by Tova Cohen; Editing by Steven Scheer)