Check Point (Nasdaq: CHKP), one of the largest Israeli cyber security companies, has delivered strong Q4 and yearly results. Despite the current business environment, the company outperformed the market on both key metrics – revenue and operating profit.

Check Point’s revenue rose by 7% compared to the corresponding period of the last year, to $638 million. On a yearly basis, the company’s revenue climbed to $2.33 billion, which is 8% higher relative to 2021, making it the fastest rate of growth since 2015. Earnings per share climbed by 11% quarter over quarter to $2.20, with the overall 2022 EPS registering a 5% increase compared to the prior year, or $6.31 per share.

Commenting on the financial reports, Check Point founder and CEO Gil Shwed said, “We delivered solid fourth quarter and 2022 full year financial results despite a volatile year-end macro-environment. Revenue and non-GAAP earnings per share came in at the top end of our projections.”

As to the hottest topic of recent weeks – Israel’s legal reform and its potential effects on the company’s activity – Shwed was more diplomatic, saying that for the 40 years that he has been in the business, he has always been careful to keep his political opinions to himself. However, the company does not see the reform as something to be concerned with. Having said all that, the firm does not stop its employees from expressing their opinions. 

“We have always been a good and stable company, and our goal is to continue to be that way. The legal reform is obviously of interest to many, but as far as the company is concerned, it is not a big issue, and we hardly talk to investors about it. Moreover, it should also be noted that it is good for us as exporters when the shekel weakens. In any case, we engage in our activities on a global level. In terms of our finances, we have not changed anything about our exposure to Israel or the shekel. We hold money all over the world; we hold considerable sums in Israel in order to keep under control our expenses, as they are denominated in shekels.” Gil Shwed said.

It’s worth mentioning that the Israeli cyber firm has outperformed analysts for seven consecutive quarters. And, given that the market climate has been under pressure on multiple fronts over the last year, including supply chain issues, inflation, and rising interest rates, Check Point’s results highlight its resilience. Especially when considering the performance of big heavyweights like Google, Apple, and Amazon during this reporting season, which all fell short of expectations.

In terms of the overall state of the high-tech market, Check Point’s CEO has no plans to lay off employees, as has been the case for many firms in the last six months. The company hired over a hundred new employees in Q4 and expects the total number to rise again this quarter.