Check Point Reports Revenue Decline

In depth

According to Globes, the company lowered its annual forecast and the stock fell about 7% in trading on Wall Street. According to Bizportal, the annual forecast was reduced to $2.73-2.78 billion, compared with $2.77-2.85 billion previously. According to Bizportal, product revenues plunged about 19%.

CEO Nadav Zafrir said the recovery is taking longer than expected. According to Bizportal, Zafrir said: "The fourth quarter marks for us the beginning of the recovery." According to Maariv, Zafrir expects gradual improvement as early as the next quarter.