Check Point Closes 2018 With a 3% Year-Over-Year Revenue Increase

The company reported annual revenues of $1.9 billion, towards the top of its projected range

Nasdaq-listed network and cloud security provider Check Point Software Technologies Ltd. published its fourth quarter and full year results for 2018 Wednesday, announcing annual revenues of $1.9 billion, up 3% year-over-year, towards the top of its projected range. The company’s GAAP net income was $821 million, and GAAP earnings per share for the year stood at $5.15, a 7% increase from 2017.

 

For the fourth quarter, Check Point reported total revenues of $526 million, a 4% year-over-year increase. GAAP net income was $238 million, and GAAP EPS was $1.51, a 4% increase year-over-year.

 

Check Point acquired Tel Aviv-based cloud cybersecurity company Dome9 Security Inc. in October 2018 to strengthen its cloud security offerings. Earlier this month, the company acquired Tel Aviv-based web app security startup ForceNock Security Ltd.

 

Check Point continued its buyback program in 2018, buying 10.3 million shares at a total cost of around $1.1 billion.

 

Check Point CEO Gil Shwed. Photo: Yuval Chen