CrowdStrike stock jumps after beating expectations in its first earnings report


George Kurtz, co-founder and chief executive officer of Crowdstrike Inc., speaks during the Montgomery Summit in Santa Monica, California.

Patrick T. Fallon | Bloomberg | Getty Images

Shares of CrowdStrike climbed as much as 7% on Thursday after the cybersecurity company reported earnings for the first time since its IPO.

Here are the results:

  • Loss per share: 47 cents versus 47 cents estimated, according to Refinitiv.
  • Revenue: $96.1 million versus $95.6 million estimated, according to Refinitiv.

For the quarter, CrowdStrike’s loss per share was in line with analysts’ estimates and revenue was slightly better than expected.

CrowdStrike said it expects a loss of 24 to 23 cents per share, in its fiscal second quarter, on $103 million to $104 million in revenue. The company’s forecast for the full year was a loss of 72 to 70 cents per share and $430.2 million to $436.4 million in revenue.

The company, which held its initial public offering June 12, provides cloud-based cybersecurity technology and consulting services, including investigation services.

CEO George Kurtz told CNBC June 12 at the company’s debut that CrowdStrike is comparable to companies like ServiceNow, Salesforce and Workday as more corporations move to cloud services.

Crowdstrike’s stock has more than doubled from its IPO price of $34. The stock surged 71% on its first day of trading, an indicator of the market’s strong interest in the market for cybersecurity services.

Follow @CNBCtech on Twitter for the latest tech industry news.

Articles You May Like

United results top estimates as demand remains resilient despite high fares
“Built-for-Rent” Single-Family Housing Forecast: Steady In 2023 And Booming In 2024/2025
Beachfront Perch Offers Luxury Living Along Florida’s Atlantic Coast
GM, LG end plans for fourth U.S. battery cell plant as automaker seeks new partner
There’s still time to avoid a penalty for fourth-quarter estimated taxes — but the clock is ticking

Leave a Reply

Your email address will not be published. Required fields are marked *