April 25, 2018 / 9:22 AM / 6 months ago

Israel's Check Point Software Q1 profit up 9 pct

TEL AVIV, April 25 (Reuters) - Network security provider Check Point Software Technologies reported quarterly net profit that beat expectations, boosted by new products and revenue from security subscriptions.

Check Point earned $1.30 per diluted share excluding one-time items in the first quarter, up from $1.20 a year earlier. Revenue grew 4 percent to $452 million, the Israel-based company said on Wednesday.

It was forecast to earn $1.28 a share on revenue of $452 million, according to Thomson Reuters I/B/E/S.

“The global cyber threat landscape is becoming increasingly sophisticated. Attacks are now in their 5th generation, while 97 percent of enterprises are not prepared for these attacks and remain primarily focused on protections for 2nd or 3rd generation attacks,” said Chief Executive Officer Gil Shwed. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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