Check Point Software Reports Lower Q3 Revenue, Billings
Check Point Software's third-quarter revenue and billings fell short of expectations.
The Brief
- Company reported revenue of $1.09 billion, below the $1.13 billion forecast.
- Billings declined to $1.17 billion from $1.22 billion in the prior quarter.
- Shares dropped 5.7% following the earnings release.
Check Point Software, a cybersecurity firm, announced its third-quarter financial results, revealing revenue of $1.09 billion, which missed the $1.13 billion forecast.
Billings for the quarter totaled $1.17 billion, a decrease from $1.22 billion in the previous quarter, according to the company's report.
The company's stock fell 5.7% in after-hours trading after the earnings report was released.
Check Point attributed the revenue shortfall to slower-than-expected growth in its security products and services.
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