CrowdStrike Holdings Inc shares had jumped almost 7% after the cybersecurity company posted 4Q fiscal 2023 that exceeded expectations on both the top and bottom line, just one day after its stock moved higher on the news it had partnered with Dell Technologies.
The company, which has a strong track record of beating the Street’s earnings estimates, posted non-GAAP diluted earnings per share of $0.47, up from $0.30 in the year-ago quarter and ahead of the expected $0.43.
The company achieved revenue of $637.4 million, up 48% from $431 million in 4Q fiscal 2022. Analysts had expected revenue of $626.8 million.
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“CrowdStrike delivered a record fourth quarter that exceeded our expectations across the board," CloudStrike CEO George Kurtz said.
"Highlights of the quarter included record net new annual recurring revenue (ARR) of $222 million, record net new subscription customers of 1,873, record operating and free cash flow and a rule of 81 on a free cash flow basis.
“CrowdStrike’s growing market share showcases customers' recognition of the Falcon platform’s technology leadership and advanced AI that drives better security outcomes, consolidation and lower total cost of ownership (TCO)."
CrowdStrike shares had added 6.9% at US$133.60 in after-hours trading on Tuesday.
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