Check Point Software Technologies Ltd. (Nasdaq: CHKP) today reported a $222 million profit in the fourth quarter, $1.46 per share, considerably higher than the previous $1.25 per share forecast.
The Israeli information security company also reported that its fourth quarter revenue totaled $486.7 million, more than the $477.5 million Wall Street forecast and 6% more than in the corresponding quarter in 2015.
Check Point's profit for all of 2016 was $724.8 million, $4.18 per share, on $1.74 billion in revenue. The company share price has climbed 6% since the beginning of 2017 and 18% in the past 18 months.
"We finished 2016 very strongly in our worldwide business, with a fine increase in the number of the company's new customers. We posted very strong growth in security for mobile apps and advanced solutions for preventing cyber threats. Growth in the company's regular business exceeded 10%," said Check Point cofounder Gil Shwed when the company's results were published.
Published by Globes [online], Israel Business News - www.globes-online.com - on January 19, 2017
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