DEXWireNews

CrowdStrike (NASDAQ: CRWD) Leaps After Solid Q3 Earnings

Long
NASDAQ:CRWD   CrowdStrike Holdings, Inc.
Cybersecurity group CrowdStrike says its on target to reach $10 billion in annual recurring revenues over the next five to seven years.

CrowdStrike (NASDAQ: CRWD) - shares jumped higher in early Wednesday trading after the cybersecurity group posted better-than-expected third quarter earnings paired with a solid-near term sales outlook.

CrowdStrike said current quarter revenues would likely range between $836.6 million to $840 million, nudging just ahead of Street forecasts, with annual recurring revenue (ARR), a key performance metric for tech services companies, pegged at $3.15 billion.

Investors were also impressed with the group's potential to grow revenues from small and medium-sized business through new product launches on Amazon (AMZN).

For the three months ending in October, CrowdStrike posted adjusted earnings of 82 cents per share, topping Street forecasts by around 8 cents, on revenues of $786 million, a tally the came in just ahead of estimates. Annual recurring revenue rose 13% from last year to a record $223 million.

CrowdStrike share were marked 6.8% higher in today's trading to change hands at $226.80 each, a move that would extend the stock's six-month gain to around 44% and value the Austin, Texas-based company at around $54.1 billion.


⭐⭐⭐ Sign Up for Free ⭐⭐⭐

1) Email Newsletter: dexwirenews.com/sign-up/

2) Text Message Notifications: dexwirenews.com/sms-newsletter/

3) Telegram: t.me/DEXWireNews

4) Follow Us on our Social Networks
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.