CrowdStrike: Fiscal Third Quarter 2024 Earnings Results
Key Takeaways
- Revenue: $667 million, up 53% year-over-year.
- Net income: $185 million, up 58% year-over-year.
- EPS: $0.38, up 60% year-over-year.
Financial Performance
CrowdStrike's financial performance in the third quarter of 2024 was robust, with strong growth across all key metrics. Revenue increased by 53% year-over-year to $667 million, driven by growth in both subscription and professional services revenue. Net income grew by 58% to $185 million, and EPS increased by 60% to $0.38.The company's strong financial performance is a reflection of the increasing demand for its cloud-based security solutions. CrowdStrike's platform provides comprehensive protection against a wide range of cyber threats, including malware, ransomware, and phishing attacks.
Business Highlights
In addition to its strong financial performance, CrowdStrike also made significant progress in its business during the third quarter. The company expanded its product portfolio with the launch of new modules, including CrowdStrike Asset Graph and CrowdStrike Falcon Complete. It also expanded its global reach by opening new offices in the Asia-Pacific region.CrowdStrike's commitment to innovation and customer satisfaction has been recognized by industry analysts. The company was recently named a leader in the Gartner Magic Quadrant for Endpoint Protection Platforms.
Outlook
CrowdStrike's outlook for the future is positive. The company expects to continue to grow its revenue and earnings in the coming quarters. It is also investing in new products and technologies to maintain its competitive advantage.CrowdStrike is well-positioned to capitalize on the growing demand for cloud-based security solutions. The company's strong financial performance, innovative products, and global reach make it a leader in the industry.
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