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CrowdStrike forecasts upbeat second-quarter revenue on robust demand for cybersecurity solutions
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CrowdStrike forecasts upbeat second-quarter revenue on robust demand for cybersecurity solutions
Jun 4, 2024 2:53 PM

June 4 (Reuters) - CrowdStrike Holdings Inc ( CRWD )

forecast second-quarter revenue above market estimates on

Tuesday, helped by strong demand for its cybersecurity offerings

in the wake of growing online challenges spurred by the use of

artificial intelligence (AI).

Shares of the Austin, Texas-based company rose 6.5% after

the bell.

As enterprises have ramped up cybersecurity investments to

protect against rising online threats and AI-driven cyber

attacks, CrowdStrike ( CRWD ) has been able to promote its unified

platform of security services.

The company in May also expanded its partnerships with

Amazon's ( AMZN ) AWS and Google Cloud to further integrate its

security solutions within their cloud services.

CrowdStrike ( CRWD ) now expects revenue in the range of $958.3

million and $961.2 million for the second quarter ending July

31, compared with analysts' average estimates of $954.4 million,

according to LSEG data.

Excluding items, the company expects net income per share

between 98 cents and 99 cents in the quarter, compared with

estimates of 91 cents.

The company also raised its full-year 2025 forecast, now

seeing revenue in the range of $3.98 billion and $4.01 billion,

compared with its previous forecast of $3.92 billion and $3.99

billion.

On an adjusted basis, CrowdStrike ( CRWD ) expects earnings for the

year to be between $3.93 per share and $4.03 per share, up from

its prior forecast of $3.77 and $3.97.

Analysts on average expect 2025 revenue of $3.97 billion and

net income of $3.91 per share.

For the first quarter ended April 30, CrowdStrike ( CRWD ) reported

revenue of $921 million, above analysts' estimates of $904.7

million.

On an adjusted basis, it posted earnings of 93 cents per

share, compared with estimates of 89 cents.

Peer Palo Alto Networks Inc ( PANW ) in May forecast its

fourth-quarter billings largely in line with estimates,

indicating the near-term impact of the firm's attempts to

consolidate its services under a single platform.

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