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.