CrowdStrike Holdings Inc CRWD shares are volatile in Tuesday’s after-hours session after the company reported better-than-expected financial results and issued guidance above analyst estimates.
CrowdStrike said fiscal second-quarter revenue increased 58% year-over-year to $535.2 million, which beat average analyst estimates of $515.42 million, according to Benzinga Pro. Annual recurring revenue jumped 59% year-over-year to $2.14 billion.
The cybersecurity company reported quarterly earnings of 36 cents per share, which beat average analyst estimates of 27 cents per share.
The company added 1,741 net new subscription customers in the quarter, bringing total subscription customers to 19,686 as of July 31. CrowdStrike ended the quarter with $2.32 billion in cash and equivalents.
“As organizations respond to macroeconomic conditions, they are prioritizing investments and looking to standardize with a security partner they can trust to achieve better protection with less time, fewer resources and lower total cost of ownership. Our ability to deliver immediate ROI and consolidate the security and IT stack significantly sets us apart from the competition,” said George Kurtz, co-founder and CEO of CrowdStrike.
CrowdStrike expects third-quarter revenue to be between $569.1 million and $575.9 million versus the estimate of $568.57 million. The company expects third-quarter adjusted earnings to be between 30 cents and 32 cents per share versus the estimate of 28 cents per share.
CrowdStrike said it expects full-year revenue to be between $2.223 billion and $2.232 billion versus the estimate of $2.2 billion.
CRWD Price Action: CrowdStrike has a 52-week high of $242 and a 52-week low of $130.
The stock was up 0.49% in after hours at $194.25 at press time.
Photo: aichinger76 from Pixabay.
Image and article originally from www.benzinga.com. Read the original article here.