CrowdStrike Holdings Inc. topped expectations with its results and outlook for the latest quarter, and shares of the cybersecurity company edged higher in Wednesday’s aftermarket activity.
The company posted fiscal second-quarter net income of $8.48 million, or 3 cents a share, whereas it logged a loss of $49.3 million, or 21 cents a share, in the year-earlier period.
On an adjusted basis, CrowdStrike
CRWD,
earned 74 cents a share, compared with 36 cents a share a year before. The FactSet consensus was for 56 cents a share.
See also: Pure Storage’s stock gains 3% after revenue beat, guidance
Revenue increased to $731.6 million from $535.2 million, while analysts were projecting $724.2 million. Subscription revenue came in at $690.0 million.
CrowdStrike reported annual recurring revenue of $2.93 billion. roughly in line with the FactSet consensus.
“The AI-powered Falcon platform’s native capabilities across our cloud, identity and next-gen SIEM [security information and event management] businesses are unique in the market,” Chief Executive George Kurtz said. He said that these areas contributed to “well over” $500 million in ending annual recurring revenue.
For the current quarter, CrowdStrike expects $775.4 million to $778.0 million in total revenue, along with 74 cents in adjusted earnings per share. The FactSet consensus was for $774.1 million in revenue and 60 cents in adjusted EPS.
Looking to the full fiscal year, management is calling for $3.0307 billion to $3.0429 billion in total revenue and $2.80 to $2.84 in adjusted EPS. Analysts were looking for $3.024 billion and $2.39, respectively.
CrowdStrike’s stock rose about 0.6% in Wednesday’s extended trading.
Read the full article here