CrowdStrike Entries (CRWD) on Tuesday reported January quarter earnings and revenue that beat consensus estimates. In addition, the cybersecurity firm’s earnings guidance for CRWD shares was well above Wall Street’s targets.
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CrowdStrike’s fourth-quarter earnings rose 57% to 47 cents per share on an adjusted basis.
Including acquisitions, revenue increased 48% to $637.4 million.
CrowdStrike stock analysts surveyed by FactSet had projected CrowdStrike earnings of 43 cents a share on revenue of $625 million for the period ending January 31.
A year earlier, the Sunnyvale, California-based cybersecurity firm earned 30 cents a share on revenue of $431 million.
For the current quarter ending in April, CrowdStrike forecasts revenue of $676.5 million, beating estimates of $663.3 million.
CrowdStrike shares rose 6.1% to 132.50 in extended trading on the stock market today.
CRWD Stock: Key Financial Metrics
Wall Street also focuses on annual recurring revenue, or ARR. It is a financial metric tied to the growth of subscription service customers.
In the fourth quarter, ARR increased 48% to $2.56 billion. Analysts had forecast ARR of $2.515 billion.
Heading into CrowdStrike’s earnings report, CRWD shares were up 21% so far in 2023. But CRWD shares possessed an IBD Relative Strength Rating of just 22 out of 99 best possible, according to IBD Stock Checkup. .
The cybersecurity company uses machine learning, a form of artificial intelligence, in its products. Meanwhile, it uses a specialized database to detect malware on laptops, mobile phones, and other devices that access corporate networks.
Also, CrowdStrike stocks are one of many cybersecurity stocks to watch out for.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity, and cloud computing.
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