CrowdStrike Holdings Inc. shares fell in the extended session Wednesday after the cybersecurity company’s forecast failed to wow Wall Street.
CrowdStrike shares CRWD dropped more than 10% after hours, following a 1% rise in the regular session to close at $160.13. The software company’s executives forecast adjusted fiscal second-quarter earnings of 54 cents to 57 cents a share on revenue of $717.2 million to $727.4 million, while analysts forecast earnings of 55 cents a share on revenue of $718.6 million, according to analysts surveyed by FactSet.
CrowdStrike reported fiscal first-quarter net income of $491,000, or less than a penny a share, compared with a loss of $31.5 million, or 14 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 57 cents a share, compared with 31 cents a share in the year-ago period. Revenue rose to $692.6 million from $487.8 million in the year-ago quarter.