Why CrowdStrike Stock Gained This Morning

Shares of CrowdStrike (NASDAQ: CRWD) gained as much as 6% this morning after the company reported fourth-quarter earnings. The results topped expectations and guidance was strong, but tech stocks are under pressure today. As of 11:55 a.m. EST, CrowdStrike stock had given back all of those gains and was up less than 1%.

Revenue in the fiscal fourth quarter came in at $264.9 million, easily beating the consensus estimate of $250.6 million in sales. That translated into adjusted earnings per share of $0.13, also topping the $0.08 per share in adjusted profits that Wall Street analysts were modeling for. The cybersecurity specialist said annual recurring revenue (ARR) had reached $1.05 billion, while subscription gross margin expanded to 78%.

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Source Fool.com