Shares of security vendor Check Point are up 7 percent this morning as the company blew past earnings expectations for its fourth quarter.

Check Point reported revenues of $487 million and net income of $222 million, or $1.31 per share. For the same quarter a year ago, the company reported revenues of $458 million and net income of $195 million, or $1.08 per share.

Non-GAAP earnings per share of $1.46 were well above the $1.25 predicted by Thomson Financial.

As an incumbent vendor, Check Point is a favored target of newer vendors trying to disrupt the market. Palo Alto Networks, in particular, enjoys pointing out the cases where it takes business away from Check Point (Cisco, too).

But Check Point continues to grow. The company saw "triple-digit growth" in mobile security and advanced threat protection, with the latter having become "a significant part of our business," CEO Gil Shwed said on the company's earnings call this morning. And sales of security gateways have seen "double-digit growth three quarters in a row," he said.

For the first quarter of 2017, Check Point is forecasting revenues of $420 million to $440 million.