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Benzinga
Benzinga
Business
Pooja Rajkumari

CrowdStrike Shares Fall 6% Despite Beating Q3 Estimates: What's Going On?

CrowdStrike

Shares of CrowdStrike Holdings Inc. (NASDAQ:CRWD) dropped by 6.14% in pre-market trading on Wednesday, according to Benzinga Pro. This decline followed a weaker-than-anticipated earnings forecast for the upcoming quarter, despite the company surpassing Wall Street estimates for the third quarter.

What Happened: CrowdStrike projected adjusted earnings of $0.84 to $0.86 per share for the fiscal fourth quarter, missing Wall Street’s expectation of $$0.86 cents per share. Despite this, the cybersecurity firm reported record revenue of $1.01 billion in the third quarter, exceeding the consensus estimate of $982.36 million. Adjusted earnings stood at $0.93 per share, surpassing analyst predictions of $0.81 per share.

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