Cybersecurity company CrowdStrike Holdings, Inc. (NASDAQ: CRWD) reported stronger-than-expected adjusted earnings for the third quarter of 2024 when the tech firm’s revenues grew by 35%.
Total revenue rose an impressive 35% year-over-year to $786.0 million in the October quarter from $580.9 million last year. Subscription revenue advanced 34%, and Professional Services revenue climbed 57%.
The company’s adjusted earnings more than doubled to $0.82 per share during the three-month period. Earnings also topped expectations. Net income attributable to CrowdStrike, on an unadjusted basis, was $26.7 million or $0.11 per share in Q3, compared to a loss of $55.0 million or $0.24 per share in the third quarter of fiscal 2023.