Cybersecurity firm CrowdStrike could pull off another beat on earnings and revenue for the first quarter.
The company has a strong track record of beating the Street’s earnings estimates.
That streak continued into the firm’s most recent earnings report, its fiscal 4Q 2023, when it 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.
Analysts are hoping that CrowdStrike will continue to maintain its leadership in the next-gen endpoint market.
And if the robust financial performance of CrowdStrike’s peer Zscaler is any indication, the positive trend is expected to benefit other companies operating in the same industry.
Zscaler recently reported better-than-anticipated preliminary results, indicating improved customer engagement for cybersecurity firms.
For fiscal 1Q 2024, the Street is expecting to see total revenue of around $678 million, which is within CrowdStrike’s guidance of $674.9 million to $678.2 million.
Earnings per share are pegged at around $0.51, again within CrowdStrike’s guidance, which would reflect a year-over-year growth rate of about 65%.
A cybersecurity company that specializes in endpoint protection and threat intelligence, CrowdStrike provides cloud-based security solutions to help organizations detect, prevent, and respond to cyber threats. Its flagship product is the Falcon platform, which uses artificial intelligence, machine learning, and behavioral analytics to identify and stop sophisticated attacks in real time.
CrowdStrike shares are up 49% since the beginning of 2023.
Contact Angela at angela@proactiveinvestors.com
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