Check Point Software shares fall on revenue outlook

Check Point Software Technologies Ltd. shares fell in the extended session Tuesday after the security software company forecast revenue below Wall Street expectations following in-line earnings. Check Point shares fell 7.2% to $109.19 after hours. In a conference call, Check Point forecast adjusted earnings of $1.45 to $1.55 a share on revenue of $485 million to $525 million for the fourth quarter because of restructuring in the company’s U.S. sales force. Analysts surveyed by FactSet had forecast earnings of $1.48 a share on revenue of $529.2 million. The company reported third-quarter net income of $192.7 million, or $1.16 a share, compared with $169.7 million, or $1 a share, in the year-ago period. Adjusted earnings were $1.30 a share. Revenue rose to $454.6 million from $427.6 million in the year-ago period. Analysts had estimated $1.30 a share on revenue of $455 million.

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