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CrowdStrike (CRWD) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

For the quarter ended October 2023, CrowdStrike Holdings (CRWD) reported revenue of $786.01 million, up 35.3% over the same period last year. EPS came in at $0.82, compared to $0.40 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $777.2 million, representing a surprise of +1.13%. The company delivered an EPS surprise of +10.81%, with the consensus EPS estimate being $0.74.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how CrowdStrike performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Annual recurring revenue (ARR): $3,150,000 versus $3,144,267 estimated by 11 analysts on average.

  • Revenue- Subscription: $733.46 million versus $733.94 million estimated by 12 analysts on average. Compared to the year-ago quarter, this number represents a +34% change.

  • Revenue- Professional services: $52.55 million compared to the $42.88 million average estimate based on 12 analysts. The reported number represents a change of +56.8% year over year.

  • Non-GAAP subscription gross profit: $588.69 million compared to the $581.78 million average estimate based on 10 analysts.

  • Non-GAAP professional services gross profit: $23.02 million versus $18.40 million estimated by 10 analysts on average.

  • GAAP professional services gross profit: $17.38 million versus $15.22 million estimated by four analysts on average.

  • GAAP subscription gross profit: $573.63 million compared to the $566.27 million average estimate based on four analysts.

View all Key Company Metrics for CrowdStrike here>>>

Shares of CrowdStrike have returned +20.3% over the past month versus the Zacks S&P 500 composite's +10.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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