American-Israeli Enterprise Security Firm Check Point Software Clocks Strong Security Subscriptions In Q3, But Sees Decline in Product Sales
Portfolio Pulse from Anusuya Lahiri
Check Point Software Technologies Ltd reported a 3% YoY revenue growth in Q3 FY23 to $596.3 million, beating the consensus of $591.5 million. However, the company saw a decline in product sales, with revenue from products and licenses falling 13.7% YoY. Security subscriptions increased 15.2% YoY, and software updates and maintenance grew 1.8% YoY. The company expects Q4 revenue of $636 million - $686 million.
October 30, 2023 | 3:57 pm
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NEUTRAL IMPACT
Check Point Software reported strong Q3 earnings, with a 3% YoY revenue growth. However, product sales declined.
While Check Point Software reported strong Q3 earnings, the decline in product sales could potentially impact the company's future earnings. This mixed result leads to a neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Check Point Software, a rival of Cisco Systems, reported a decline in product sales in Q3.
As a rival company, Check Point Software's performance could potentially impact Cisco Systems. However, the direct impact of this news on Cisco is not clear, leading to a neutral score.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50