CrowdStrike Reports Q1 Earnings Beat

CrowdStrike Reports Q1 Earnings Beat

CrowdStrike Holdings, Inc. CRWD on Tuesday reported first-quarter sales of $178.10 million, which beat the analyst consensus estimate of $165.30 million. This is an 85.37% increase over sales of $96.08 million the same period last year. Earnings of 2 cents per share beat the estimate by 8 cents.

CrowdStrike sees second-quarter sales at $185.8-$190.3 million versus the $173.09 million estimate. The company sees fiscal year 2021 sales between $761.2 -$772.6 million versus the $727.5 million estimate.

Founded in 2011, CrowdStrike was established with the mission of "reinventing security for the cloud era" to take advantage of the opportunity presented by numerous cyberattacks. The company uses a new approach that uses the network effects of crowdsourced data applied to modern technologies such as artificial intelligence, cloud computing and graphic databases.

CrowdStrike shares were trading up 3.7% at $95.65 in Tuesday’s after-hours session. The stock has a 52-week high of $101.88 and a 52-week low of $31.95.

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