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CrowdStrike beats Q2 earnings estimates

Yahoo Finance's Jared Blikre discusses quarterly earnings for CrowdStrike.

Video Transcript

- All right, well, CrowdStrike reported its second quarter earnings. The shares are trading in positive territory right now after hours. So let's bring in Jared Blikre to discuss the numbers. Jared.

JARED BLIKRE: That's right, we do have a little bit of good news here. It's a beat on both the top and bottom lines. I can get that out there. You can see the stock is up just marginally, less than 1% in after-hours trading. Here are the results for the second quarter revenue.

Upbeat at $535.2 million. The estimate was for 517.2 million. And that breaks down to subscription revenue of 506.2 million.

The estimate was for lower, 488.4 million. Professional services a much smaller amount, $29.0 million. The estimate was for a little bit lower, 28.2 million.

Now that top-- excuse me, the bottom line result adjusted EPS coming in at $0.36. That beat the Street estimate of $0.28 by $0.08. Annual recurring revenue of $2.14 billion. Estimate of 2.11 billion, so a slight beat there. Net new annual recurring revenue that's 218.1 million, and that did beat the estimate handily of 191.-- well 191 million.

Now total subscription customers that came in closing the quarter at 19,686, slightly higher than the estimate of 19,631. And then total stock-based compensation a bit higher than expected, 131.6 million versus estimates of 106.2 million. Now I do want to get to the expectations for the third quarter.

They're seeing adjusted EPS at $0.30 to $0.32. Estimate was for lower $0.28. They're seeing revenue of 569.1 million to 575.9 million. And that is higher than the midpoint of the estimate.

They are seeing full year adjusted EPS of $1.31 to $1.33. Previously they saw $1.18 to $1.22. So they have lifted that full year adjusted EPS guidance, as well as their revenue guidance, 2.22 billion to 2.23 billion. Previously, it was a bit lower.