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Stock Alert: CrowdStrike Holdings Up 6% On Better Results, Outlook

CrowdStrike Holdings, Inc. (CRWD) shares are rising on Wednesday morning trade as it reported a narrower net loss for the first quarter on almost double the revenue it reported last year. Further, the company raised its guidance for fiscal 2021.

The shares of the cloud-delivered endpoint protection provider are currently at $97.63, up 5.78 percent from its previous close of $92.25.

For the 52-week period, shares have traded in a range of $31.95 - $103.80 on average volume of 5,267,575.

For the quarter, the company reported net loss of $19.22 million compared to $25.98 million loss in the prior year. On a per-share basis, loss narrowed to $0.09 from $0.55 a year ago.

Revenue for the quarter climbed to $178.08 million from $96.08 million a year ago. Subscription revenues were $162.22, up from $85.99 million last year. Looking ahead to the second quarter, the company expects an adjusted net loss of $3.8 million or $0.08 per share. The total revenue for the next quarter is expected to be $185.8 to $190.3 million. Wall Street analysts polled by Thomson Reuters are projecting loss of $0.06 per share on revenue of $173.09 million.

Further, the company raised its fiscal 2021 guidance to a loss of $0.05 share on revenue in a range of $761.2 to $772.6 million. Earlier guidance was for revenue of $723.3 million to $733.5 million and loss per share between $0.14 and $0.10.

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