2010 CrowdStrike leaves Wall Street estimates behind in the third quarter of the fiscal year

  • Meanwhile, CrowdStrike exceeds Wall Street estimates for the third quarter of the fiscal year.
    The cyber security company reported an 81% increase in annual recurring revenues.
    CrowdStrike forecasts up to £187.35 million in revenues for the fourth quarter of the financial year.

    The CrowdStrike Holdings Inc. (NASDAQ: CRWD) on Wednesday released its third quarter earnings report for the fiscal year, which exceeded Wall Street estimates.

    On Wednesday, CrowdStrike gained more than 10% in extended trading. The stock is now trading at £119 per share, which represents over 200% growth for the year to date. CrowdStrike had fallen to £24.68 per share in March. The price action should prove useful if you are interested in investing in the stock market.




    CrowdStrike’s financial results for Q3 compared to analysts’ estimates

    CrowdStrike reported a third quarter loss of £18.32 million, or 8.23 pence per share. For the same quarter last year, the loss was higher at £26.55 million or 12.71 pence per share.

    On an adjusted basis, the cyber security technology company earned 5.98 pence per share in the third quarter compared to a loss of 5.24 pence per share in the same period last year. In an announcement last month, Malwarebytes announced that it had partnered with CrowdStrike to provide end-to-end enterprise security.

    CrowdStrike reported that its sales increased to £173.89 million in the last quarter. In the same quarter last year, sales were capped at a lower figure of £93.56 million. According to FactSet, experts had predicted that the company would achieve sales of £159.68 million in the third quarter. On a per share basis, they had expected the company to break even in the third quarter. According to CEO George Kurtz:

    “CrowdStrike delivered a record quarter with results exceeding our expectations across the board”.

    CrowdStrike’s forecast for the fourth quarter

    For the fourth quarter of the fiscal year, CrowdStrike now forecasts revenues of up to £187.35 million. Its estimate for fourth quarter earnings per share is 5.98 pence to 6.73 pence. Analysts, however, are forecasting fourth quarter revenues of £173.07 million and earnings per share of 0.75 pence.

    At £678.66 million, the Sunnyvale based company stated that its annual recurring revenue for the last quarter showed a massive 81% growth on an annualised basis compared to an expected decline of £638.57 million. In a separate announcement from the U.S. on Wednesday, PVH Corp said its revenues declined 17.3% in the third quarter of the fiscal year as the ongoing coronavirus pandemic impacted its sales.

    CrowdStrike debuted on the Nasdaq Stock Exchange in June last year at £48 per share. At the time of writing this article, the U.S. cyber security technology company is valued at £23.28 billion.


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