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CrowdStrike Increases After Exceeding Estimates in First Quarter Results



CrowdStrike IPO on the Nasdaq Stock Exchange on June 12, 2019.

Source: Nasdaq

The CrowdStrike share rose by as much as 18% on Friday after the cybersecurity firm posted its revenue expectations in its first earnings report since the IPO.

The rally increased the company's market capitalization by approximately $ 2.4 billion, which now totals $ 16.8 billion, according to Refinitive estimates.

  • Turnover: $ 96.1
    million compared to an estimated $ 95.6 million.
  • CrowdStrike expects a loss of 23 to 24 cents per share for the second fiscal quarter to $ 103 million in revenue of $ 104 million. For the full year, the company predicted a loss of 70 to 72 cents per share and revenue of $ 430.2 million to $ 436.4 million in advice, including for investigations. After rising $ 85.85 on Friday, the stock has risen more than 150% from its initial public offering price of $ 34.

    CEO George Kurtz told CNBC on June 12 of the company's debut that CrowdStrike is comparable to companies such as ServiceNow, Salesforce, and Workday, all of which benefit as more companies move to cloud services.

    WATCH: The IPO continues with Slack's debut


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