© Reuters.
Investing.com — CrowdStrike raised its annual guidance Wednesday after the cybersecurity company delivered better-than-expected second-quarter results as its AI-powered cybersecurity platform boosted new business wins.
Crowdstrike Holdings Inc (NASDAQ:) fell 1% in after-hours trading following the report.
The company adjusted EPS of $0.47 on revenue of $741.6 million, above estimates of $0.43 and $724.1M, respectively.
The earnings beat was driven by a surge in new customer subscriptions as demand for company’s AI-powered Falcon platform led to “high win rates,” and boosted average recurring revenue, or ARR, in the quarter, Crowdstrike said.
Annual recurring revenue – a gauge of the performance of its subscription businesses – rose 37% in Q2 year over year.
For the third quarter, the company expects an EPS of $0.74 on revenue in a range of $775.4M to $778M.
For fiscal 2024, CrowdStrike forecasts adjusted EPS of $2.80 to $2.84 and revenue of $3.03B to $3.04B, up from prior estimates for adjusted EPS of $2.32 to $2.43 and revenue of $3.00B to $3.04B
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