CrowdStrike Soars 24% On Upbeat Q4 Results And Annual Earnings Outlook Better Than Estimates

(RTTNews) - Shares of CrowdStrike Holdings, Inc. (CRWD) are surging more than 24 percent in pre-market trade on Wednesday at $297.56, after reporting upbeat fourth-quarter results that surpassed analysts expectations. The cybersecurity company's first-quarter as well as full-year earnings outlook also came in above the Street view.

CrowdStrike posted a profit of $53.7 million or $0.22 per share, compared with a loss of $47.5 million or $0.20 per share in the same quarter a year ago.

Excluding special items, earnings were $236.2 million or $0.95 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.82 per share.

Revenue for the quarter increased 33 percent to $845.3 million from $637.4 million in the previous year, with 33 percent growth in subscription revenue at $795.9 million. The consensus estimate was for $839.08 million.

The company said its Annual Recurring Revenue (ARR) increased 34 percent year-over-year to $3.44 billion as of January 31, 2024

For the first quarter, CrowdStrike expects revenue in the range of $902.2 million- $905.8 million. Adjusted EPS is expected between $0.89 and $0.90. On average, 35 analysts expect the company to report earnings on $0.82 per share on revenue of $899.29 million.

For the full year, the company sees revenue in the range of $3.925 billion - $3.989 billion. Adjusted EPS is seen in the range of $3.77 - $3.97. The consensus estimate for revenue is at $3.94 billion and for earnings at $3.75 per share.

CrowdStrike shares had closed at $297.56, down 5.18 percent on Tuesday. The stock has been trading in the range of $115.67 - $338.45 in the last 1 year.