CrowdStrike (CRWD) reports strong Q1 fiscal 2025 results, beating estimates and increasing revenues

From Nasdaq: 2024-06-05 10:19:00

CrowdStrike Holdings, Inc. (CRWD) saw a 7% increase in shares after reporting strong first-quarter fiscal 2025 results. Non-GAAP earnings rose to 93 cents per share, beating estimates and driven by higher revenues. Subscription revenues increased by 34% to $872.2 million, contributing to the company’s total revenues of $921 million for the quarter.

The company’s Falcon platform saw increased adoption due to its ability to consolidate cybersecurity functions at scale. CrowdStrike’s annual recurring revenues (ARR) reached $3.65 billion, with subscription customers adopting multiple cloud modules. Non-GAAP gross profit and operating income both increased significantly year over year.

CrowdStrike provided guidance for the fiscal second quarter and revised projections for fiscal 2025. For the second quarter, revenues are expected to be between $958.3 million and $961.2 million, with non-GAAP earnings projected in the range of 98-99 cents per share. For fiscal 2025, revenues are now forecasted between $3,976.3 million and $4,010.7 million, with non-GAAP earnings in the range of $3.93-$4.03 per share.

CrowdStrike currently holds a Zacks Rank #2 (Buy) and has gained 19.7% in the year-to-date period. Other top-ranked stocks in the technology sector include AppFolio (APPF), Arista Networks (ANET) and Alphabet (GOOGL). Each of these stocks has shown strong performance and positive revisions in earnings estimates. The technology sector continues to offer opportunities for growth and investment potential.



Read more at Nasdaq: CrowdStrike (CRWD) Jumps 7% as Q1 Earnings Beat Estimates