Earnings from Check Point and Danaher

We had two more Buy List earnings reports this morning, and both beat expectations.

Let’s start with Check Point Software (CHKP). For Q3, the company made $1.64 per share. That’s 11 cents more than Wall Street’s consensus. Quarterly revenue rose 4% to $509 million.

Gil Shwed, the CEO, said, “We executed well in the third quarter and delivered another successful virtual quarter. Revenues grew in all key areas with security subscriptions growing by 10% and EPS grew by 14% year over year. We saw expanded customer adoption of Quantum Network Gateways, CloudGuard, Infinity Total Protection and Beyond the Perimeter (BTP) – endpoint and mobile security solutions.”

Despite the earnings beat, the shares are down this morning.

Danaher (DHR) reported Q3 earnings of $1.72 per share. That’s up 62% from last year’s Q3. The consensus on Wall Street was for earnings of $1.36 per share.

Rainer M. Blair, President and Chief Executive Officer, stated, “We delivered outstanding third quarter results, achieving double-digit revenue growth, over 60% adjusted EPS growth, and we more than doubled our free cash flow year-over-year. Since the onset of the COVID-19 pandemic, our team has turned unprecedented challenges into impactful opportunities to support our customers and the global community, and we’re proud to play a pivotal role in tackling COVID-19 head-on.”

The stock is up to a new all-time high.

Posted by on October 22nd, 2020 at 11:36 am


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