CrowdStrike (NASDAQ: CRWD), an American cybersecurity technology company, stock fell Wednesday despite reporting positive second-quarter earnings Tuesday evening. Shares fell 3% in after hours trading.
The company reported earnings of USD0.11 per share, compared to the expected USD0.9 a share. Revenue amounted to USD337.3 Million, a 70% increase year over year and higher than analysts anticipated USD324 Million.
“The success of our platform strategy and our growing brand leadership have led to a groundswell of customers turning to CrowdStrike as their trusted security platform of record,” said George Kurtz, CrowdStrike co-founder and chief executive, in a statement. “We believe that our extensible Falcon platform, purpose built to leverage the power of the cloud, collecting data once and reusing it many times, is a fundamental cornerstone to building a durable growth business over the long term.”
The company forecasts third-quarter earnings of USD0.8 to USD0.10 a share, with revenue anywhere between USD358 Million to USD365.3 Million. Meanwhile analysts predict third quarter earnings of USD0.9 a share, with revenue of USD351 Million, according to FactSet.
“In the second quarter, we once again achieved strong growth at scale and delivered exceptional unit economics, drove leverage and remained capital-efficient, generating strong operating- and free-cash flow,” said Burt Podbere, CrowdStrike’s financial chief, in a statement. “Given our strong performance and growing momentum in the market, and reflecting our view of a continued robust demand environment, we are raising our guidance for fiscal year 2022.”
CrowdStrike has risen over 120% throughout the year and has a current market cap of USD61.49 Billion.