CrowdStrike News: Why CRWD Stock Is Soaring Today

CrowdStrike (NASDAQ:CRWD) news for Thursday includes the company’s earnings report for the third quarter of fiscal 2021 boosting CRWD stock up. This includes adjusted earnings per share of 8 cents on revenue of $232.46 million. This has it beating out Wall Street’s estimates of flat EPS and revenue of $213.5 million.

A sign with the Crowdstrike (CRWD) company logo

Source: VDB Photos / Shutterstock.com

Let’s take a deeper dive into the CrowdStrike earnings news below.

  • Adjusted per-share earnings is a positive switch from its adjusted losses per share of 7 cents from the same time last year.
  • Revenue for the quarter comes in 86% higher than the $125.12 million from the third quarter of fiscal 2020.
  • Operating loss of 24.16 million is 37.3% improvement year-over-year from $38.52 million.
  • The CrowdStrike earnings news also has its net loss coming in at $24.53 million.
  • That’s a 30.9% better result than its net loss of $35.51 million from the same period of the year prior.

George Kurtz, co-founder and CEO of CrwodStrike, said the following about the news.

“CrowdStrike delivered a record third quarter with results exceeding our expectations across the board. Broad-based demand and strength in multiple areas of the business fueled our rapid 87% year-over-year subscription revenue growth, record net new ARR of $117 million and record 1,186 net new subscription customers.”

CrowdStrike also updates its guidance in its most recent earnings report. It now expects fiscal 2021 adjusted EPS of 21 cents to 22 cents on revenue ranging from $855 million to $860 million. For comparison, Wall Street is estimating adjusted EPS of 6 cents on revenue of $819.96 million for the year.

CRWD stock was up 15.7% as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/crowdstrike-news-sends-crwd-stock-higher/.

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