CrowdStrike Rises As Quarterly Results, Outlook Better Than View

(RTTNews) - Shares of cybersecurity company CrowdStrike Holdings, Inc. (CRWD) are rising more than 9% Thursday morning after reporting improved earnings in the second quarter. The company's third-quarter as well as full-year outlook came in above analysts' view.

CrowdStrike reported net profit of $8.5 million or $0.03 per share for the second quarter, compared with net loss of $49.3 million or $0.21 per share in the same quarter a year ago, helped primarily by growth in subscription revenue.

Excluding one-time items, earnings were $0.74 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.56 per share.

Quarterly revenue grew 37% to $731.63 million from $535.2 million last year. Subscription revenue was $690.0 million, a 36% year-on-year increase.

Looking forward to the third quarter, the company expects revenue in the range of $775.4 million - $778.0 million, and adjusted EPS to be $0.74 per share. Analysts expect the company to report earnings of $0.6 per share on revenue of $773.97 million for the quarter.

For the full year, revenue is expected in the range of $3.031 billion- $3.043 billion and adjusted EPS in the range of $2.80 - $2.84. The consensus estimate for revenue stands at $3.02 billion and for earnings at $2.39 per share.

CRWD is at $162.80 currently. It has traded in the range of $92.25 - $195.29 in the last 52 weeks.