Check Point Q3 Revenue Falls 1.1% as Security Subscriptions Rise 11%

Check Point Software Technologies posted a 1.1% year-over-year revenue decline in the third quarter, while security subscription sales grew and its remaining performance obligation expanded.

Revenue was $669.8 million, down 1.1% year over year. Non-GAAP earnings per share were $2.49.

Security subscription revenue rose 11% to $339 million. Remaining performance obligation (RPO) increased 5% to $2.5 billion.

The results were within the ranges in Check Point’s July outlook. Revenue was forecast at $655 million to $685 million, non-GAAP earnings per share at $2.43 to $2.53, and security subscription revenue at $332 million to $343 million.