Cybersecurity technology company CrowdStrike Holdings, Inc. (NASDAQ: CRWD) Wednesday said its third-quarter revenues surged 86% aided by the demand spurred by digital transformation. The results also surpassed the market’s projection.
The tech firm reported earnings of $0.08 per share for the October-quarter, on an adjusted basis, marking an improvement from last year’s $0.07 per share loss. The latest number also came in above the consensus forecast. On an unadjusted basis, the company reported a loss of $24.5 million or $0.11 per share, compared to a loss of $35.5 million or $0.17 per share in the third quarter of 2020.
The positive bottom-line performance was driven by an 86% growth in revenues to $232.5 million, exceeding the Street view. At $213.5 million, subscription revenue was up 87%.
Read management/analysts’ comments on CrowdStrike’s Q3 results
Shares of CrowdStrike Holdings more than doubled this year, continuing the uptrend that started after last year’s IPO. The stock closed Wednesday’s regular session lower, but gained sharply in the after-hours following the announcement.