CrowdStrike Shares Rise On Earnings Beat

Shares of the cybersecurity company are rising on stronger-than-expected earnings, optimistic revenue forecast

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Danial Clark
Danial Clark
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Danial Clark is an award-winning executive producer, and previously oversaw business, political and general news as a senior producer at Fox Business, Reuters, Bloomberg TV and CNBC.
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Published March 08, 2023
CrowdStrike HQ

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Shares of cybersecurity company CrowdStrike (CRWD) are rising 5% in early trading Wednesday after the company posted earnings that topped analyst estimates and offered an optimistic revenue outlook.

CrowdStrike earnings for the fourth quarter rose 57% to $0.47 per share, compared to estimates of $0.43 per share. Revenue jumped 48% to $637.4 million, more than the $625 million analysts anticipated. A year ago, the cybersecurity firm earned $0.30 per share on revenue of $431 million. 

For the current quarter ending in April, CrowdStrike forecast revenue of $676.5 million, topping estimates of $663 million as it seeks more business from small and mid-sized firms.

The cybersecurity firm uses machine learning, a form of artificial intelligence, in its products, which includes a specialized database to detect malware on laptops, mobile phones, and other devices that access corporate networks.

Shares of CrowdStrike are up 24% this year, and down 22% over the past year.

CrowdStrike (CRWD) YTD Return

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  1. CrowdStrike Holdings Inc. "CrowdStrike Reports Fourth Quarter and Fiscal Year 2023 Financial Results"

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