For the September quarter, Check Point delivered results above our and consensus estimates for both top and bottom lines, on revenue of $370.4 million, leading to out-performance of pro forma earnings per share. The company’s product revenue posted accelerated growth for the second consecutive quarter. We were encouraged by the favorable reception the company experienced for its threat emulation blade and high-end and super-high-end products. We believe the strong cybersecurity spending environment could bode favorably for the company as it continues to gain traction in the advanced threat detection market.
The company’s bookings activity was strong in North America, EMEA, and APAC and included improvement in large deal activity. Much of the strength for the quarter was attributed to the company’s software blades, which grew revenue 22.0% year-over-year. Check Point provided a wider fourth-quarter guidance range than typical—of revenue of $395 million to $430 million and pro forma EPS of $0.99 to $1.09—which both bracket Street consensus. The fourth quarter typically has increased variability in the company’s results because of the larger volume of deals and increased activity. The company experienced strength in its high-end appliances, which were significant contributors to growth. Software blade growth was led by threat emulation, anti-bot, and application control blades. The Americas region again delivered solid growth. The company spent $192 million to buy back 2.8 million shares during the quarter.
We are encouraged by the 10.7% growth in combined product and subscription revenue, and an improvement in the spending environment, particularly in North America and Europe. We believe Check Point continues to have significant opportunity in terms of software blade growth, which in our view should sustain mid- to upper-single-digit revenue growth over the long term.