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Israeli cyber security firm Check Point Software Q2 profit beats estimates

JERUSALEM : Check Point Software Technologies on Wednesday reported a higher-than-expected profit for the second quarter boosted by double-digit revenue growth in its consolidated cyber security platform that prevents attacks across networks, mobile and the cloud.

The Israeli-based company said it earned $2.00 per diluted share excluding one-off items in the April-June quarter, up 22 per cent from $1.64 a year earlier. Revenue grew 3 per cent to $589 million.

It was forecast to earn $1.90 a share on revenue of $589 million, according to I/B/E/S data from Refinitiv.

Check Point said it bought back 2.6 million shares in the quarter, worth $325 million, as part of its ongoing $2 billion share buyback programme.

Source: CNA

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