Check Point reports higher Q1 revenue, lower profit

Israel cybersecurity company Check Point Software Technologies (Nasdaq: CHKP) has opened 2022 with a positive first quarter in which it beat the analysts’ forecasts and was at the higher end of its own expectations.

Check Point’s revenue in the first quarter was $ 543 million, up 6.9% from the corresponding quarter of 2021. But GAAP net profit was $ 169 million, down 7.4% from $ 183 million in the corresponding quarter of 2021. Non-GAAP net profit was $ 204 million , down from $ 211 million in the first quarter of 2021 but earnings per share in the first quarter of 2022 rose 2% to $ 1.57 from $ 1.54 in the first quarter of 2021.







At the end of the first quarter of 2022, Check Point had $ 398 billion in cash after cash flow operations of $ 398 million in the first quarter of 2022, up 6.1% from the corresponding quarter of 2021.

Check Point founder and CEO Gil Shwed said, “We had an excellent first quarter. Total revenues and earnings per share reached the high-end of our projections. We had strong product demand in our Quantum family and continued strength in our CloudGuard and Harmony products. The global escalation of cyber-attacks is making companies rethink the dated approach of disparate point solutions and they are transitioning to a more unified approach to prevent the next cyber pandemic. Our customers continue to adopt more of our technologies and consolidate their security infrastructure with our Infinity architecture. “

Check Point’s share price is down 3.03% on Nasdaq at $ 131.39, giving a market cap of $ 16.832 billion.

Published by Globes, Israel business news – en.globes.co.il – on April 27, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.


Israel cybersecurity company Check Point Software Technologies (Nasdaq: CHKP) has opened 2022 with a positive first quarter in which it beat the analysts’ forecasts and was at the higher end of its own expectations. Check Point’s revenue in the first quarter was $ 543 million, up 6.9% from the corresponding quarter of 2021.…

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