CrowdStrike Growth Soars -- Tapping Into the Remote-Work Environment

CrowdStrike Holdings (NASDAQ: CRWD) was already one of the best-performing growth stocks of 2020 -- it was up 85% year to date going into its fiscal 2021 first-quarter earnings report after the market close on Tuesday. It also had a significant amount of future growth built into its stock price. But despite the elevated expectations, the cloud-native cybersecurity company cleared the high bar with room to spare.

The company reported revenue of $178.1 million, up 85% year over year, easily surpassing analysts' consensus estimates of $165.4 million and the high end of management's forecast, which topped out at $167.6 million.  CrowdStrike also delivered non-GAAP earnings per share of $0.02, compared to a loss of $0.47 in the prior-year quarter, marking the first time the company has reported adjusted profits. Analysts were predicting an adjusted loss of $0.06.  

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Source Fool.com