Crowdstrike Holdings Inc has announced that its first-quarter 2024 total revenue rose 42% year over year to $692.6 million, surpassing the Zacks Consensus Estimate of $674.3 million but less than the 61% growth the company generated during the same period last year.
The cybersecurity provider also recorded non-GAAP net income of $0.57 per diluted share for the period, which also beat the $0.50 expectation.
Shares of Crowdstrike fell more than 10% in Wednesday’s after-hours session as the slower revenue growth spooked some investors.
“Crowdstrike's first quarter results exceeded our guided metrics and reached new financial milestones, delivering the winning combination of growth, profitability and free cash flow at scale,” Crowdstrike Holdings CEO George Kurtz said in a statement.
For 2Q, the company said it expects to report non-GAAP earnings per share of $0.54 to $0.57 on revenue of between $717.2 million and $727.4 million.
Contact Sean at sean@proactiveinvestors.com