Cyberattacks becoming more difficult to stop: Check Point CEO

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Shares of Check Point Software Technologies (CHKP) are sliding despite the cybersecurity provider reporting third quarter revenue rising 7% year over year. Check Point CEO Gil Shwed joins Catalysts to discuss the earnings results and break down the market reaction. "I guess the market was expecting much more from us because we hit all our financial goals and all our projections, and I think we had pretty good results for the quarter. But our stock has run up recently quite a lot. And I get the market was expecting even more," Shwed tells Yahoo Finance. He notes that number of cyberattacks has risen significantly and that they are becoming increasingly sophisticated. He adds that over the last year, cyberattacks have increased 75% globally and 56% in the US. Shwed emphasizes that at this point, detection of attacks "is not enough." Instead, he explains, "The challenge is to prevent or stop the attacks from getting into the organization. It is not easy. The new generation of attacks, we call it the fifth generation of cyberattacks, are very hard to detect. They usually go into an organization, move inside, take over the organization, and then create their damage." #youtube #news #stockmarket About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download th

Published 2024-11-02 · Watch on YouTube ↗
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