Shares of Check Point Software Technologies Ltd. dropped over 13% while Commvault Systems Inc. saw a 24% increase in share price after reporting quarterly earnings.
Check Point's Q3 sales increased by 7% to $635 million, slightly missing the consensus estimate. However, its Harmony Email tool and Infinity Global Services unit showed strong growth.
Commvault reported a 16.1% increase in Q2 revenue, beating expectations. Its subscription business and SaaS products drove much of the growth.
Commvault forecasts a 13% year-over-year increase in sales for the current quarter, with full-year revenue expected to range between $952 million and $957 million.