CrowdStrike IPO on the Nasdaq Stock Exchange June 12, 2019.
CrowdStrike shares increased as much as 18% on Friday after cyber security company hit sales expectations in its first earnings report since it was published.
The rally increased by about $ 2.4 billion to the company's market value, which is now $ 16.8 billion.
Here are the results for the first quarter:
- Loss per share: 47 cents against 47 cents estimated, according to Refinitiv.
- Revenue: $ 96.1
CrowdStrike said it expects a loss of 23 to 24 cents per share in its fiscal second quarter of $ 103 million to $ 104 million in revenue. The company's full-year forecast was a loss of 70 to 72 cents per share and $ 430.2 million to $ 436.4 million in revenue.
The company, which increased over $ 600 million in IPO last month, provides cloud-based security technology and consulting services, including for research. Having climbed as high as $ 85.85 on Friday, the stock has jumped more than 150% from its $ 34 IPO price.
CEO George Kurtz told CNBC on June 12 at the company's debut that CrowdStrike can be compared to companies such as ServiceNow, Salesforce and Workday, as all the benefits as more companies move to cloud services.
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