CrowdStrike and Okta shares jump on second-quarter beats and raised outlooks
Shares in CrowdStrike Holdings Inc. and Okta Inc. both jumped in late trading today after the two security companies beat expectations in their July quarters. CrowdStrike shares were up more than 10% after the bell and Okta shares more than 19%. Both raised their full-year outlooks. Executives at each company pointed to enterprise deployment of […] The post CrowdStrike and Okta shares jump on…
CrowdStrike Holdings Inc. and Okta Inc. both experienced significant gains in late trading following the release of their second-quarter financial results, which surpassed expectations. CrowdStrike's shares increased by more than 10% while Okta's rose by over 19%. Both companies also raised their full-year outlooks. CrowdStrike reported adjusted earnings of 31 cents per share and revenue of $1.47 billion, both surpassing analysts' expectations.
The company highlighted the growing enterprise adoption of AI agents as a key driver behind the strong performance, with Falcon Flex licensing arrangements contributing to a 101% growth in annual recurring revenue. Okta also reported a similar beat in their Q2 results, with adjusted earnings per share of $0.92 and revenue of $1.04 billion, exceeding analysts' estimates of $0.87 and $1.01 billion, respectively.
The rise in shares can be attributed to the positive impact of AI-powered threats on customer demand and the successful implementation of Falcon Flex.
Brief written by urgent.news from SiliconANGLE's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
