CrowdStrike Holdings Inc. shares dropped in the extended session Tuesday after the cybersecurity company said new subscriptions came in below expectations amid macro headwinds. CrowdStrike
CRWD,
-1.04%
shares plummeted more than 17% after hours, following a 1% decline in the regular session to close at $138.
The company reported a fiscal third-quarter loss of $55 million, or 24 cents a share, compared with a loss of $50.5 million, or 22 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 40 cents a share, compared with 17 cents a share in the year-ago period. Revenue rose to $580.9 million from $380.1 million in the year-ago quarter. Annual recurring revenue, or ARR, a software-as-a-service metric that shows how much revenue the company can expect based on subscriptions, grew 54% to $2.34 billion from the year-ago quarter, while the Street expected $2.35 billion. Analysts expected CrowdStrike to report earnings of 28 cents a share on revenue of $516 million, based on the company’s outlook of 30 cents to 32 cents a share on revenue of $569.1 million to $575.9 million. “ …