George Kurtz, co-founder and CEO of CrowdStrike, during a Bloomberg Technology television interview on the RSA conference in San Francisco on April 26, 2023.
David Paul Morris | Bloomberg | Getty Images
CrowdStrike Shares rose as much as 21% in after-hours trading on Tuesday, in accordance with the cybersecurity company reported a rise in sales and profit figures in addition to a stronger than expected forecast for the approaching quarter and the complete yr.
Here’s how the corporate performed in comparison with consensus estimates based on an analyst survey by LSEG, formerly often called Refinitiv:
- Earnings per share: 95 cents adjusted versus 82 cents expected
- Revenue: $845 million versus expected $839 million
For the period ended Jan. 31, CrowdStrike had net income of $54 million, or 22 cents per share, compared with a lack of $48 million, or 20 cents per share, within the year-ago period.
CrowdStrike has now reported GAAP net income for the past 4 quarters, Chief Financial Officer Burt Podbere said within the earnings release. Full-year revenue increased 36% year-over-year from $2.24 billion to $3 billion.
The company too it announced would acquire Flow Security for an undisclosed price in a cash-and-stock deal expected to shut in the primary quarter of the corporate’s fiscal yr. The company has ramped up its merger and acquisition activity in recent months.
“CrowdStrike is the cybersecurity consolidator of choice, the innovator of choice and the platform of choice to stop security breaches,” co-founder and CEO George Kurtz said in a press release.
The company also forecast first-quarter revenue between $902 million and $906 million, higher than the consensus estimate of $899 million. CrowdStrike also expects earnings per share for the period to be between 89 cents and 90 cents, higher than the consensus estimate of 82 cents.
Podbere also reiterated the corporate’s deal with achieving $10 billion in annual recurring revenue by 2030. In January, the corporate reached $3.4 billion in annual recurring revenue.
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