CrowdStrike stock jumps after beating expectations in its first earnings report
- Shares of CrowdStrike rose as much as 7% on Thursday after the company reported its first earnings report since going public.
- The company, which held its initial public offering June 12, provides cloud-based cybersecurity technology and consulting services, including investigation services.
- CrowdStrike's stock has more than doubled since its IPO.
Shares of CrowdStrike climbed as much as 7% on Thursday after the cybersecurity company reported earnings for the first time since its IPO.
Here are the results:
- Loss per share: 47 cents versus 47 cents estimated, according to Refinitiv.
- Revenue: $96.1 million versus $95.6 million estimated, according to Refinitiv.
For the quarter, CrowdStrike's loss per share was in line with analysts' estimates and revenue was slightly better than expected.
CrowdStrike said it expects a loss of 24 to 23 cents per share, in its fiscal second quarter, on $103 million to $104 million in revenue. The company's forecast for the full year was a loss of 72 to 70 cents per share and $430.2 million to $436.4 million in revenue.
The company, which held its initial public offering June 12, provides cloud-based cybersecurity technology and consulting services, including investigation services.
CEO George Kurtz told CNBC June 12 at the company's debut that CrowdStrike is comparable to companies like ServiceNow, Salesforce and Workday as more corporations move to cloud services.
Crowdstrike's stock has more than doubled from its IPO price of $34. The stock surged 71% on its first day of trading, an indicator of the market's strong interest in the market for cybersecurity services.
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