CrowdStrike (CRWD) Q4 earnings 2024

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CrowdStrike (CRWD) Q4 earnings 2024

George Kurtz, co-founder and chief executive officer of Crowdstrike Holdings Inc., during a Bloomberg Technology television interview at the RSA Conference in San Francisco, California, US, on Wednesday, April 26, 2023. 

David Paul Morris | Bloomberg | Getty Images

Crowdstrike shares dropped nearly 9% in extended trading on Tuesday after the cybersecurity software provider issued disappointing earnings guidance.

Here’s what the company reported compared to LSEG estimates:

• Earnings per share: $1.03. The number doesn’t to appear to be comparable to analyst estimates.
• Revenue: $1.06 billion vs. $1.03 billion

Revenue increased 25% from $845.3 million a year earlier, and the company posted a net loss of $92.3 billion, or 37 cents per share. In the year ago *******, the company posted net income of $53.7 million, or 22 cents per share.

For the year, CrowdStrike said it expects earnings, excluding some items, to range between $3.33 and $3.45 per share, falling short of the $4.42 expected by analysts polled by LSEG. First-quarter earnings are expected to be between 64 cents and 66 cents per share, versus the 95-cent average estimate.

Despite the after-hours drop, CrowdStrike topped some metrics from Wall Street. The company posted $4.24 billion in annual recurring revenue, reflecting 23% growth. That topped the $4.21 billion estimate from analysts surveyed by StreetAccount and included $224 million in net annual recurring revenue.

Revenue guidance was roughly inline with estimates. CrowdStrike said it expects revenue of between $4.74 billion and $4.81 billion for the year, versus an LSEG estimate of $4.77 billion.

The earnings release comes almost eight months after a technology update from the company led to a global IT outage that grounded flights, disrupted businesses and led to class action lawsuits.

CEO George Kurtz said in the

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that artificial intelligence is becoming more important in stopping cyber attacks.

“As businesses of all sizes rapidly adopt AI, stopping the breach necessitates cybersecurity’s AI-native platform,” Kurtz said.

WATCH: U.S. facing domestic and cyber attacks

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#CrowdStrike #CRWD #earnings

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