Check Point’s First Quarter: Revenues Slightly Up, Profit Slightly Down

Nasdaq-listed network and cloud security provider Check Point Software Technologies Ltd. published its first-quarter report for 2019 Thursday, announcing a slight increase in revenues and a slight decrease in profit.

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The company reported revenues of $472 million for the quarter, up from $452 in the first quarter of 2018, above the average analyst estimate of $471.07 million. GAAP operating income was $206 million, or 44% of revenues, compared to $213 million, or 47% of revenues in the first quarter of 2018, which the company attributed to investments made in marketing, sales, and manpower as part of the expansion to cloud and mobile.

GAAP net income was $180 million, compared to $187 million in the first quarter of 2018, and GAAP earnings per diluted share were $1.15, compared to $1.16 in the first quarter of 2018. Non-GAAP net income was $205 million compared to $210 million in the first quarter of 2018. Non-GAAP EPS were $1.32 for the first quarter of 2019, compared to $1.30, above the analyst consensus of $1.309.

“We had good results in the first quarter, with 13% growth in our security subscriptions, including advanced solutions for Cloud and Mobile as well as SandBlast Zero-day threat prevention,” said CEO and co-founder Gil Shwed in a statement.