- Check Point Software Technologies Ltd (NASDAQ:CHKP) reported second-quarter revenue growth of 4% year-on-year to $526 million, beating the analyst consensus of $523.1 million.
- Revenue from Products and licenses decreased 2.9% Y/Y to $119.1 million, Security subscriptions increased 12% Y/Y to $183.7 million, and Software updates and maintenance grew 2% Y/Y to $223.3 million.
- Strong execution drove double-digit growth across CloudGuard and Harmony and a triple-digit increase in Infinity platform sales, CEO Gil Shwed stated.
- He estimates the organizations to stop the next cyber pandemic by adopting a prevention-first approach to security across the network, cloud, and remote users.
- The non-GAAP operating margin contracted 100 basis points to 49%.
- Non-GAAP EPS of $1.61 beat the consensus of $1.56.
- The company generated $264 million in operating cash flow and held $4 billion in cash and equivalents.
- CHKP repurchased shares worth $325 million in Q2.
- The company held $1.9 billion in cash and equivalents.
- Price action: CHKP shares closed higher by 0.74% at $125.90 on Friday.
Lucid To Hike EV Prices From June, Sticks To Lowered 2022 Target As Supply Issues Linger
Lucid Group Inc (NASDAQ: LCID) said on Thursday it would increase the prices of its electric vehicles from June and stick to its lowered production target for 2022 that it had provided in March due to supply chain issues.
