Check Point shares fall after first-quarter revenue misses Wall Street estimates
Updated
Updated · MarketWatch · Apr 30
Check Point shares fall after first-quarter revenue misses Wall Street estimates
4 articles · Updated · MarketWatch · Apr 30
The stock dropped 9.5% to $126.69 premarket after revenue rose 4.8% to $668.4m, below analysts' $672.7m estimate, despite adjusted earnings of $2.50 a share beating forecasts.
Net income edged up to $191.6m, or $1.83 a share, from $190.9m, or $1.77, a year earlier. A decline in products-and-licenses revenue outweighed growth in security subscriptions.
The Israeli cybersecurity company said go-to-market changes hurt product revenue in the quarter but should help longer term, as it shifts strategy to defend against AI-driven threats.
Can Check Point's bold AI strategy justify its revenue miss and win the escalating cybersecurity arms race?
Amidst a stock drop, is Check Point's AI defense pivot a visionary move or a costly gamble against nimbler rivals?