CrowdStrike Holdings Q4 Results Beat Street View, Outlook Strong; Shares Up 14%

(RTTNews) - Shares of CrowdStrike Holdings, Inc. (CRWD) gained over 14% in extended trading session on Wednesday after the cybersecurity company reported its results for the fourth quarter and outlook for the first-quarter and full-year 2023.

Fourth-quarter net loss was $42.0 million or $0.18 per share, compared to $19.0 million or $0.09 per share last year.

On an adjusted basis, the company reported a profit of $70.4 million or $0.30 per share, compared to $31.6 million or $0.13 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.20 per share. Analysts' estimates typically exclude one-time items.

Revenues for the quarter surged 63% to $431.0 million from $264.9 million last year. Subscription revenue was $405.4 million, a 66% increase, compared to $244.7 million a year ago. Analysts had consensus revenue estimate of $410.91 million for the quarter.

Looking forward to the first quarter, the company expects adjusted earnings of $0.22 to $0.24 per share and revenues of $458.9 million to $465.4 million. Analysts currently estimate earnings of $0.17 per share on revenues of $440.76 million.

For the full year 2023, the company expects earnings of $1.03 to $1.13 per share on revenues of $2.13 billion to $2.16 billion. Analysts currently estimate earnings of $0.91 per share on revenues of $2.01 billion.

CRWD closed Wednesday's trading at $169.79, up $13.02 or 8.31%, on the Nasdaq. The stock further gained $23.21 or 13.67% in the after-hours trading.