CRWD Stock: CrowdStrike Results Top Views

CrowdStrike (CRWD) reported second-quarter results late Tuesday that handily beat estimates on the top and bottom lines. CRWD stock edged up during after-hours trading.

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The cybersecurity software company reported adjusted earnings of 36 cents a share on revenue of $535.2 million. Analysts expected CrowdStrike to report earnings of 28 cents on revenue of $516 million, according to FactSet. Revenue grew 58% from the year-ago quarter.

CRWD stock was up fractionally to 194.42 during after-hours trading on the stock market today.

The company reported annual recurring revenue, or ARR, of $2.14 billion. Analysts expected $2.11 billion, up 59%. Analysts consider ARR a key metric in CrowdStrike results, as it links to subscription customer growth.

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The company estimates third-quarter revenue will be in the range of $569 million to $575.9 million. The midpoint of $572.45 million is above estimates of $569.2 million.

“CrowdStrike delivered a strong second quarter with new milestones across the business,” Chief Executive George Kurtz said in written remarks with the CrowdStrike earnings release.

Chief Financial Officer Burt Podbere added, “CrowdStrike delivered robust growth at scale and exceptional unit economics with over 80% year-over-year growth in operating and free cash flow.”

CRWD stock has an IBD Composite Rating of 84 out of a best-possible 99, according to IBD Stock Checkup.

Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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