CrowdStrike Holdings Inc. shares surged in the extended session Tuesday after the cybersecurity company’s earnings beat and forecast topped Wall Street expectations amid a tough software environment.
CrowdStrike
CRWD,
shares rallied as much as 8% after hours, following a 2.1% decline to close the regular session at $124.93.
The company reported a fiscal fourth-quarter loss of $47.5 million, or 20 cents a share, compared with a loss of $42 million, or 18 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 47 cents a share, compared with 30 cents a share in the year-ago period.
Revenue rose to $637.4 million from $431 million in the year-ago quarter.
Analysts expected CrowdStrike to report earnings of 43 cents a share on revenue of $625 million, based on the company’s forecast of 42 cents to 45 cents a share on revenue of $619.1 million to $628.2 million.
CrowdStrike expects adjusted fiscal first-quarter earnings of 50 cents to 51 cents a share on revenue of $674.9 million to $678.2 million, while analysts surveyed by FactSet forecast earnings of 42 cents a share on revenue of $663.3 million.
CrowdStrike expects full-year earnings of $2.21 to $2.39 a share on revenue of $2.96 billion to $3.01 billion. Wall Street expects $1.99 a share on revenue of $2.95 billion.
CrowdStrike shares are down 25% over the past 12 months, while the S&P 500
SPX,
has shed 5% and the tech-heavy Nasdaq Composite
COMP,
has declined 10%.
Last quarter, CrowdStrike’s stock logged its worst one-day percentage drop after the company warned of slowing subscriptions.
