Cybersecurity company CrowdStrike Holdings, Inc. (NASDAQ: CRWD) Wednesday reported higher earnings and revenues for the fourth quarter of 2022 as demand conditions remained favorable due to strong digital transformation and cloud adoption. The results also beat the estimates.
fourth-quarter net income, excluding special items, rose to $0.30 per share from $0.13 per share a year earlier, surpassing the consensus forecast. On an unadjusted basis, it was a net loss of $41.9 million or $0.18 per share, compared to a loss of $19.0 million or $0.09 per share in the fourth quarter of 2021.
The positive earnings performance, on an adjusted basis, reflects a 63% increase in fourth-quarter revenues to $431 million, which also came in above the market’s prediction.
Read management/analysts’ comments on CrowdStrike’s Q4 earnings
Shares of CrowdStrke made strong gains during Wednesday’s extended trading, after closing the regular session higher.