Check Point sees strong Q2 as product and subscription revenues rise

The cybersecurity firm has released its financial results for the second quarter

Check Point has more than doubled its rate of growth in a year thanks to strength in product and subscription revenues.

The cybersecurity firm has released its financial results for the second quarter ending 30 June 2022.

It saw total revenues reach $571m, a 9 per cent increase year over year, while its GAAP operating income hit $209m, representing 37 per cent of revenues.

Part of the rise was down to product and licencing revenues, which saw a 12 per cent increase year over year to $133m.

And security subscription revenues also rose 14 per cent, hitting $210m in the latest quarter.

Gil Shwed, founder and CEO of Check Point, said he was "pleased" with the results, saying total revenues were more than double the rate of a year ago.

He said: "Over the past quarter, cyber-attacks have increased by 32 percent while advanced attacks like ransomware have grown by 59 percent, underscoring why cyber-security is so critical to keep our world going.

"Our strategic vision of a consolidated prevention-first security architecture is more relevant than ever to combat today's cyber challenges."