CrowdStrike Holdings Inc. (NASDAQ:CROWD) delivered impressive results in its latest quarterly report on Tuesday, surpassing expectations; however, the cybersecurity company witnessed a marginal decline in its stock during the extended trading session.
In the fiscal third quarter, CrowdStrike recorded a net income of $26.7 million, or 11 cents per share, a significant improvement from the net loss of $55.0 million, or 24 cents per share, in the same period the previous year.
On an adjusted basis, CrowdStrike reported earnings per share of 82 cents, a notable increase from 40 cents the previous year, surpassing analysts’ projections of 74 cents.
The company’s revenue experienced a substantial surge, reaching $786 million compared to $581 million the previous year, exceeding the FactSet consensus of $777 million.
CrowdStrike achieved $3.15 billion in ending annual recurring revenue, marking a 35% year-over-year increase, surpassing analysts’ expectations of $3.14 billion in ARR. Net new annual recurring revenue reached $223.1 million.
CEO George Kurtz highlighted, “Our single-platform architecture and unique data advantage unite security and IT teams in solving cybersecurity’s mission-critical challenges, driving increased win rates and record pipeline.”
Looking ahead to the fiscal fourth quarter, CrowdStrike forecasts revenue in the range of $836 million to $840 million, with adjusted EPS projected between 81 cents and 82 cents. The FactSet consensus was $837 million in revenue and 78 cents in adjusted EPS, respectively.
CrowdStrike’s report follows closely after fellow cybersecurity firm Zscaler Inc. (ZS) posted results that exceeded expectations.
Despite the positive performance, CrowdStrike’s stock experienced a modest 1% decline in after-hours trading on Tuesday, following a 1% increase in the regular session.
Featured Image: Megapixl © Andreistanescu
Author Stephanie Bédard-Châteauneuf 
