Connect with us

Company News

CrowdStrike projects strong Q2 revenue amid AI-driven cybersecurity demand

CrowdStrike Holdings Inc forecast second-quarter revenue above market estimates on Tuesday, helped by strong demand for its cybersecurity offerings in the wake of growing online challenges spurred by the use of artificial intelligence (AI).

Shares of the Austin, Texas-based company rose 6.5% after the bell.

As enterprises have ramped up cybersecurity investments to protect against rising online threats and AI-driven cyber attacks, CrowdStrike has been able to promote its unified platform of security services.

The company in May also expanded its partnerships with Amazon’s AWS and Google Cloud to further integrate its security solutions within their cloud services.

CrowdStrike now expects revenue in the range of $958.3 million and $961.2 million for the second quarter ending July 31, compared with analysts’ average estimates of $954.4 million, according to LSEG data.

Excluding items, the company expects net income per share between 98 cents and 99 cents in the quarter, compared with estimates of 91 cents.

The company also raised its full-year 2025 forecast, now seeing revenue in the range of $3.98 billion and $4.01 billion, compared with its previous forecast of $3.92 billion and $3.99 billion.

On an adjusted basis, CrowdStrike expects earnings for the year to be between $3.93 per share and $4.03 per share, up from its prior forecast of $3.77 and $3.97.

Analysts on average expect 2025 revenue of $3.97 billion and net income of $3.91 per share.

For the first quarter ended April 30, CrowdStrike reported revenue of $921 million, above analysts’ estimates of $904.7 million.

On an adjusted basis, it posted earnings of 93 cents per share, compared with estimates of 89 cents.

Peer Palo Alto Networks Inc in May forecast its fourth-quarter billings largely in line with estimates, indicating the near-term impact of the firm’s attempts to consolidate its services under a single platform. Reuters

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!