Check Point Q3 Earnings: Security Subscriptions Revenue Soars 11.5%, But Margins Slip As Expenses Rise
Portfolio Pulse from Anusuya Lahiri
Check Point Software Technologies reported a 7% revenue growth in Q3, with security subscriptions revenue up 11.5%. However, margins slipped due to rising expenses. The stock is down 7.69% premarket despite a 37% YTD gain.
October 29, 2024 | 12:48 pm
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Check Point Software Technologies reported Q3 revenue growth of 7%, with security subscriptions up 11.5%. However, margins declined due to a 12.5% increase in operating expenses. Despite a 37% YTD gain, CHKP shares are down 7.69% premarket.
The decline in operating margins and the increase in operating expenses are likely causing investor concern, leading to a premarket drop in CHKP shares. Despite strong revenue growth in security subscriptions, the overall financial performance did not meet investor expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100