Check Point Software falls on Q3 revenue and billings miss

Check Point Software reported Q3 adjusted EPS of $2.49, in line with estimates, but revenue of $670 million and billings of $639 million missed consensus. Revenue fell 1% year over year and billings fell 5%. The company said revenue hit a trough in Q3 and expects gradual improvement starting in Q4, though recovery is taking longer than anticipated. CHKP stock fell 6% to $143 in early trading.