GoKawiil
Tech News
CrowdStrike and Okta both topped Wall Street's second-quarter estimates and raised their forecasts, pointing to rising AI-related cyberattacks as a driver of increased customer spending on security tools. CrowdStrike shares rose 15% and Okta jumped 20%, while Palo Alto Networks, SailPoint and Rubrik each gained roughly 9% as the sector rallied broadly.
CrowdStrike beat Wall Street expectations for its fiscal second quarter, posting adjusted earnings of 31 cents per share and revenue of $1.47 billion, up 26% year over year. Annual recurring revenue climbed 25% to $5.84 billion, and the company swung to net income of $5.3 million from a loss a year earlier. Shares rose more than 11% in after-hours trading following the results and raised guidance.
Okta reported quarterly revenue up 11% to over $800 million and net income more than doubling to $116 million, beating Wall Street estimates and sending shares up 19%. The company said new products, including its Okta for AI Agents tool now available to all customers, drove 30% of total bookings, with dozens of new AI-related deals closed including a multi-million-dollar healthcare contract.