Check Point Software Technologies stock is lower Monday after the Israeli security-software company posted a mixed third quarter. While revenue and profits both topped Street estimates, weaker-than-expected billing growth is weighing on shares.
For the quarter, Check Point posted revenue of $596 million, slightly ahead of the Wall Street consensus forecast for $592 million, according to FactSet, and in the middle of the company’s guidance range of $570 million to $605 million. Revenue rose 3% from a year ago. Billings were $531 million. BTIG analyst Gray Powell pointed out in a research note that the figure came in 5% light of Street consensus at $559 billion. Powell writes that the results suggest that a “refresh cycle” in firewall software is seeing delays, impacting the company’s results.
For the December quarter, Check Point projects revenue of $636 million to $686 million, with non-GAAP profits of $2.35 to $2.55 a share; Street consensus estimates for revenue and profits per share had been $669.3 million and $2.36, respectively.
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Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »