CrowdStrike beats Q3 estimates on cybersecurity demand

Investing.comNov 27, 2024 12:51 AM

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Investing.com -- Cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:CRWD) on Tuesday reported a better than expected quarterly earnings on the back of strong demand for its cybersecurity products at a time when there is rising online threats fueled by the use of artificial intelligence (AI).

Its third-quarter revenue rose about 29% to $1.01 billion, beating estimates of $982 million.

It reported an a profit per share of 93 cents, above expectations of 81 cents.

“CrowdStrike surpassed $4 billion in ending ARR in the quarter - the fastest and only pure play cybersecurity software company to reach this reported milestone - as our single platform approach and trailblazing innovation continue to resonate at-scale,” said CEO George Kurtz.

With enterprises increasing cybersecurity investments to combat rising online threats and AI-driven cyberattacks, CrowdStrike has leveraged its unified security platform to meet growing demand.

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