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Check Point Software Q1 profit, revenue beat forecasts

JERUSALEM, April 27 (Reuters) - Check Point Software Technologies beat estimates with a 2% gain in first-quarter profit, boosted by growth in its cloud protection products and consolidated cyber security platform.

Israel-based Check Point on Wednesday said it earned $1.57 per diluted share excluding one-off items in the January-March period, up from $1.54 a year earlier. Revenue grew 7% to $543 million. The company in 2021 had topped $2 billion for a second straight year.

It was forecast to earn $1.54 a share on revenue of $534 million, according to I/B/E/S data from Refinitiv.

"The global escalation of cyber-attacks is making companies rethink the dated approach of disparate point solutions and they are transitioning to a more unified approach to prevent the next cyber pandemic," said CEO Gil Shwed.

Check Point said it bought back 2.5 million shares in the quarter, worth $325 million, as part of its share repurchase programme. (Reporting by Steven Scheer, Editing by Louise Heavens)

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