Check Point Software Technologies Ltd. saw its profit and revenue grow in the second quarter, though its earnings came in below analysts’ expectations.

The Israel-based cybersecurity firm reported a profit before certain costs such as stock compensation of $196.4 million, or $1.38 per share, on revenue of $505.6 million, up 4% from a year ago. Wall Street was expecting the company to report a profit of $1.43 per share on $488.2 million.

Check Point sells a range of hardware and software security products designed to protect enterprise data, networks, cloud and mobile deployments. It also offers various security management tools.

The company says its products help provide consolidated security across all of these areas to protect against cyberattacks that can compromise sensitive data and cause significant business disruption, which it likes to call “Gen V” threats.

Check Point said its products and license sales, subscription sales and maintenance business all beat expectations. One reason for this is that the coronavirus pandemic has pushed many companies to speed up their migrations to the cloud, leading to greater demand for the company’s security products, officials said.

The company’s stock fell about 1% today following the early-morning report.

“We delivered solid second-quarter results driven by strong sales execution despite the rising impact of the COVID-19 pandemic,” Check Point founder and Chief Executive Gil Shwed said in prepared remarks. “Sales increased across multiple categories and segments, including our advanced technologies such as cloud, endpoint, and high performance network security. We extended our Infinity platform with new Quantum appliances and newly expanded CloudGuard family.”

Check Point’s CloudGuard family is a suite of security tools that were launched in 2018. They’re designed to protect companies’ information technology infrastructure and software-as-a-service deployments.

Saas deployments can be tricky to protect because they’re hosted by third parties instead of the company that uses them. The challenge lies in enforcing security policies individually on each SaaS provider’s platform. That increases the risk of human error, especially at companies that use dozens of different cloud services.

“The new CloudGuard provides cloud native security, a fully automated platform that enables customers to leverage the speed and agility of the cloud, while utilizing a single pane of glass security management to protect their deployments and workloads.” Shwed said.

Check Point declined to provide guidance for the next quarter, citing uncertainty from the ongoing pandemic.

Photo: Check Point