The Israeli cybersecurity firm beat analysts in the fourth quarter, with earnings per share of $ 0.06 above expectations. Israeli cybersecurity company Check Point Software Technologies Ltd. (Nasdaq: CHKP) on analysts in the fourth quarter of 2020 and ended the year with more than $ 2 billion in revenue, up 3.5% from 2019, while non-GAAP earnings rose 3.2% in 2020. In the fourth quarter of 2020, Check Point reported revenues of $ 564 million, up 3.7% over the corresponding quarter of 2019. Fourth-quarter net profit was $ 271 million, down 0.6% from the corresponding quarter of 2019. The profit in the fourth quarter was $ 301 million, which is Slightly higher than the corresponding quarter of 2019, earnings per share was $ 2.17, which was $ 0.06 higher than analysts’ expectations. Related materials SolarWinds breach boosts Israeli cybersecurity stocks Goldman Sachs sees a 7% rise in Check Point Check Point buys Israeli cloud-based Odo Security, 2020 annual revenue of $ 2.06 billion and GAAP net profit of $ 847 million, up 2.5% for 2019. GAAP net profit was $ 963 million, up from $ 933 million in 2019 and earnings per share were $ 6.78. Jill Shweed, Founder and CEO, Check Point said, “We are pleased with the financial results for the fourth quarter and full year of 2020. The business grew in the fourth quarter across all focus areas including cloud, networking and remote access security with subscription revenue growing by 10% and growing EPS non-GAAP rate of 11% year on year. This reflects the continuous implementation of our strategy and the importance of cybersecurity during these unprecedented times. The global pandemic has driven the new normal hybrid business environment and accelerated digital transformation that has created security challenges across all types of organizations. Infinite Security Platform Preventing 5G cyber attacks across all major attack vectors. Delivering cybersecurity is now more important than ever and I would like to thank our customers, partners, and employees for doing this happen. ” Posted by Globes, Israel business news – en.globes.co.il – on February 3, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021 Gil Shwed photo: Tamar Matsafi
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