Investors Cheer Check Point Software Q3 Results

Check Point Software Technologies Ltd. CHK reported better than expected results for the third quarter.

• Reports 9 percent increase in adjusted EPS to $1.13, beats by $0.05.
• Total revenue grew 6 percent to $427.57 million, tops by $4.78 million.
• Repurchased 3.2 million shares for about $247 million.

Check Point's founder and CEO Gil Shwed commented, "Third quarter financial results were very good with revenues coming in toward the upper end of our projections and earnings per share that exceeded our projections. Customers continue to leverage the Check Point security platform and increase their adoption of our advanced security capabilities which is resulting in higher subscription revenues."

Following this, the stock gained 3.11 percent to $83.50 in the pre-market session.