CrowdStrike $CRWD ( ▲ 1.65% ) delivered another solid quarter, beating Wall Street’s revenue and earnings forecasts and giving investors a fresh bump in full-year guidance. The cybersecurity firm reported adjusted earnings of $0.96 per share and $1.23 billion in revenue, both slightly ahead of expectations and enough to show that demand for its platform is still running strong.
Its subscription business once again did the heavy lifting, generating $1.17 billion in sales. Annual recurring revenue reached $4.92 billion as of October, a reminder that CrowdStrike’s model continues to compound even in a cooling IT spending environment.
Despite the beats, the stock barely moved after hours, likely because shares have already surged this year. But management didn’t waste the opportunity to raise the bar. CrowdStrike now expects full-year revenue of up to $4.81 billion and boosted its earnings outlook as well.
CFO Burt Podbere said the company is benefiting from an AI-fueled wave of customer consolidation on its Falcon platform, pushing its sales pipeline to the highest level the company has seen.