NEW DELHI: Check Point Software Technologies Ltd (CHKP) announced a profit for the second quarter that beat the Street estimates.
The company's bottom line came in at $197.4 million, or $1.74 per share. This compares with $202 million, or $1.70 per share, in last year's second quarter.
Excluding items, Check Point Software Technologies Ltd reported adjusted earnings of $246 million or $2.17 per share for the period.
Analysts on average had expected the company to earn $2.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 6.6% to $627.4 million from $588.7 million last year.

Check Point Software Technologies Ltd earnings at a glance (GAAP) :
-Earnings (Q2): $197.4 Mln. vs. $202 Mln. last year. -EPS (Q2): $1.74 vs. $1.70 last year. -Revenue (Q2): $627.4 Mln vs. $588.7 Mln last year.

The company has also announced the appointment of Nadav Zafrir as Check Point Chief Executive Officer.

For the past 10 years, Nadav Zafrir has been a co-founder and managing partner at Team8, a global venture creation and venture capital fund. Team8 establishes and invests in companies focused on cyber security, Data & AI, Fintech and digital health. He built, invested and chaired 17 cyber security companies in addition to dozens of other technology companies he has consulted and mentored. He previously served 25 years in the IDF, retiring as a Brigadier General. Since 2019, he has served as Chairman of the Board of SolarEdge Technologies, a Nasdaq traded smart energy company. Mr. Zafrir will assume the CEO role in December 2024 and will join Check Point’s Board of Directors upon shareholder approval at Check Point’s next Annual General Meeting. Gil Shwed will become Executive Chairman of the Board.

“We are concluding a thorough CEO search process after examining candidates from around the world and found the perfect individual.  Nadav has been a key leader in the global cyber security ecosystem for over a decade.  Having lived in New York and Tel Aviv, he became one of the most respected figures within the global CISO community.  He established and led multiple cyber security companies and partnered with the world’s largest security vendors.  I admire his achievements and leadership skills and I am excited about his appointment, and believe he is the right leader to take Check Point to new heights,” concluded Mr. Shwed.

“I am honored to join Check Point, a pioneer that shaped modern cyber security, and a hotbed for entrepreneurship,” said Nadav Zafrir. “Over the last decade, I've collaborated with global cyber security leaders and teams, witnessing firsthand their incredible efforts to safeguard global networks from sophisticated attackers. I am in awe of the work of security practitioners and their organizations deserve the best security. In our turbulent world, on the brink of another acceleration point as AI redefines our lives, cutting-edge cyber security is more critical than ever.  Check Point is uniquely positioned to lead development of the next stage of security for our complex world. I look forward to working with the company’s accomplished leadership team and Gil to write the next chapter in Check Point’s growth,” concluded Mr. Zafrir.