October 24, 2018 / 9:05 AM / a month ago

Check Point Software Q3 profit up, acquires cloud security firm

TEL AVIV, Oct 24 (Reuters) - Network security provider Check Point Software Technologies reported third quarter net profit that beat expectations and said it has acquired Israel’s Dome9 to strengthen its position in cloud security.

Check Point earned $1.38 per diluted share excluding one-time items in the quarter, up from $1.30 a year earlier. Revenue grew 4 percent to $471 million, the Israel-based company said on Wednesday.

It was forecast to earn $1.36 a share on revenue of $466 million, according to I/B/E/S data from Refinitiv.

“Third quarter results reached the top end of our projections, with better than anticipated strength coming from the U.S. and Europe,” Chief Executive Gil Shwed said.

Financial details of the acquisition were not disclosed.

Founded in 2011, Dome9 enables security and compliance for rapid public cloud adoption. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)

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