Check Point reports higher Q1 revenue, lower profit

• Author: Shiri Habib-Valdhorn
• Publication Date: 27 April 2022
• Publication title: Globes (Rishon LeZion, Israel)

Check Point's revenue in the first quarter was $543 million, up 6.9% from the corresponding quarter of 2021. But GAAP net profit was $169 million, down 7.4% from $183 million in the corresponding quarter of 2021. Non-GAAP net profit was $204 million, down from $211 million in the first quarter of 2021 but earnings per share in the first quarter of 2022 rose 2% to $1.57 from $1.54 in the first quarter of 2021

At the end of the first quarter of 2022, Check Point had $398 billion in cash after cash flow operations of $398 million in the first quarter of 2022, up 6.1% from the corresponding quarter of 2021.

Check Point founder and CEO Gil Shwed said, "We had an excellent first quarter. Total revenues and earnings per share reached the high-end of our projections. We had strong product demand in our Quantum family and continued strength in our...