Cybersecurity
CrowdStrike Beats on Earnings, Capitalizes on Microsoft Woes
- First-quarter revenue far exceeded analysts’ estimates
- CEO says US report on Microsoft led to ‘outpouring’ interest
The Crowdstrike booth during the 2023 RSA Conference in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
CrowdStrike Holdings Inc. delivered first-quarter earnings that beat Wall Street’s expectations, despite a pullback in spending that has challenged its cybersecurity rivals.
Revenue totaled $921 million in the first quarter, far surpassing the average of analysts’ estimates. The company posted adjusted earnings of 93 cents per share, above a 90-cent projection. Shares of the Austin, Texas-based company were trading at $320.41 at 10:08 a.m. in New York on Wednesday after closing at $305.58 on Tuesday.