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CrowdStrike logs earnings beat, citing AI traction

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CrowdStrike Holdings Inc. topped expectations with its results and outlook for the latest quarter.

CrowdStrike Holdings Inc. topped expectations with its results and outlook for the latest quarter, but shares of the cybersecurity company dipped in Wednesday’s aftermarket activity.

On an adjusted basis, CrowdStrike CRWD, +1.69% earned 74 cents a share, compared with 36 cents a share a year before. The FactSet consensus was for 56 cents a share.Revenue increased to $731.6 million from $535.2 million, while analysts were projecting $724.2 million. Subscription revenue came in at $690.0 million.

“The AI-powered Falcon platform’s native capabilities across our cloud, identity and next-gen SIEM [security information and event management] businesses are unique in the market,” Chief Executive George Kurtz said. He said that these areas contributed to “well over” $500 million in ending annual recurring revenue.

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