CrowdStrike Stock Surges 2.3% After-Hours on Stellar Q2 Earnings Report
In a stunning display of financial prowess, CrowdStrike’s stock skyrocketed 2.3% in after-hours trading following the release of their fiscal second-quarter earnings report. The cybersecurity software company once again exceeded expectations, particularly in their subscriptions business, although they did revise their full-year outlook.
During the quarter ending on July 31, CrowdStrike reported a net income of $47.0 million, or 19 cents per share, a significant increase from the $8.5 million, or 3 cents per share, from the same period last year. Adjusted earnings per share also saw a notable rise to $1.04 from 74 cents, surpassing the FactSet consensus of 97 cents.
Furthermore, total revenue experienced a remarkable 31.7% growth to $963.9 million, exceeding the FactSet consensus of $958.3 million. Impressively, this marks the 22nd consecutive quarter where both adjusted EPS and revenue have outperformed expectations.
Subscription revenue specifically saw a 33.1% increase to $918.3 million, surpassing the FactSet consensus of $909.3 million. However, professional services revenue fell short, only rising 9.5% to $45.6 million, missing expectations of $49.3 million.
Despite their stellar performance, CrowdStrike adjusted their full-year outlook for adjusted EPS to $3.61 to $3.65 from $3.93 to $4.03, and for revenue to $3.89 billion to $3.90 billion from $3.98 billion to $4.01 billion.
In conclusion, CrowdStrike’s exceptional financial results demonstrate their continued success in the cybersecurity market. Investors should take note of their impressive performance and consider the potential impact on their investment portfolios.