Cybersecurity firm CrowdStrike Inc (NASDAQ:CRWD) traded higher in premarket, up 1.9% at $152, the company reported a 37% improvement in second-quarter revenue, rising to $731.6 million, which was ahead of the consensus analyst forecast of $724 million.
Quarterly earnings per share similarly beat expectations comfortably.
The cybersecurity technology company’s adjusted earnings per share (EPS) for the period came in at $0.74, versus analyst consensus forecast of $0.56.
“CrowdStrike delivered strong growth at scale, exceeding our guidance across both top and bottom line metrics in the second quarter,” CrowdStrike Holdings CEO George Kurtz said in a statement.
“The AI-powered Falcon platform’s native capabilities across our cloud, identity, and next-gen SIEM businesses are unique in the market, in aggregate contributing well over half a billion dollars in ending annual recurring revenue (ARR).”
The company also realized record cash flow from operations of $245 million and record free cash flow of $189 million during 2Q.
CrowdStrike ended the quarter with cash and cash equivalents of $3.17 billion as of July 31, 2023.
Looking ahead, the company raised its full-year guidance, now forecasting adjusted EPS of $2.80 to $2.84 on revenue of $3.03 billion to $3.04 billion.