CrowdStrike Holdings, Inc. (CRWD) shares fell sharply in after-hours trading on Tuesday, dropping 5.23% following the cybersecurity firm's third-quarter earnings report.
The company reported better-than-expected earnings and revenue for the quarter ended October 31. However, CrowdStrike's earnings guidance for the current quarter fell short of analysts' expectations, sparking the sell-off.
CrowdStrike projected adjusted earnings of 84 cents to 86 cents per share for the fourth quarter, lower than the consensus estimate of 87 cents per share. This earnings outlook overshadowed the company's solid third-quarter performance, with revenue growing 28.5% year-over-year to $1.01 billion, beating Wall Street's expectations.
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