After Palo Alto Networks and other cybersecurity stocks failed to meet expectations, the market highly anticipated CrowdStrike’s earnings after the bell. And unlike its peers, the company delivered big time, so let’s take a look. 👇
Adjusted earnings per share of $0.95 beat expectations of $0.82, while revenues of $845 million topped the $839 million anticipated. Notably, the firm has reported GAAP net income for the past four quarters, and management expects that trend to continue. 💵
Full-year revenue was up 36% YoY, with executives reiterating their 2030 goal of reaching $10 billion in annual recurring revenue. On top of that, it’s acquiring Flow Security for an undisclosed price in a cash-and-stock deal. In recent months, the company has been stepping up its merger and acquisition activity to drive further growth.
That news and first-quarter guidance topping Wall Street estimates caused $CRWD shares to soar 24% to all-time highs. 📈