Why CrowdStrike Stock Jumped Today

Shares of CrowdStrike (NASDAQ: CRWD) climbed on Thursday, following the release of the cloud security specialist's strong third-quarter results. As of 1:10 p.m. EST, CrowdStrike's stock price was up more than 14%.

CrowdStrike's revenue soared 86% year over year to $232.5 million, fueled by an 87% increase in subscription revenue, to $213.5 million. CrowdStrike added 1,186 net new subscription customers in the third quarter, bringing its total customer base to 8,416 as of the end of October. That's up 85% from the prior year.

As more companies shift their operations to the cloud, demand for CrowdStrike's cybersecurity services is booming. Image source: Getty Images.

Continue reading

Source Fool.com