A number of high-profile tech stocks saw their share prices spike late Wednesday. The market applauded earnings releases from CrowdStrike (CRWD), Salesforce (CRM) and Okta (OKTA).
With most traders principally focused on Nvidia (NVDA) earnings in Wednesday’s post-market, these stocks are getting less of the spotlight despite robust results.
CrowdStrike Q2 earnings
CrowdStrike, the cybersecurity company, reported adjusted earnings per share (EPS) of $0.31, beating the Wall Street consensus by $0.02 per share. Revenue of $1.47 billion climbed 25% YoY and beat the consensus by $30 million.
CRWD stock surged over 11% afterhours despite the narrow beat as management raised the full-year outlook to adjusted EPS of at least $1.25, up from $1.23 consensus, and on full-year revenue of $6 billion, up from $5.94 billion consensus.
Salesforce Q2 earnings
Salesforce’s stock price jumped over 12% to $230 afterhours after the company blew past the earnings estimate. Marc Benioff’s company earned $5.90 in adjusted EPS, $2.63 ahead of the Wall Street consensus.
Revenue of $11.35 billion grew 11% YoY and beat the consensus by $30 million.
For the fiscal third quarter, Salesforce raised its revenue and EPS guidance slightly above the prior consensus.
Okta Q2 earnings
Okta, the digital identity firm, earned $1.05 in adjusted EPS, 9 cents better than the consensus. Revenue of $805 million came in $12 million ahead of consensus and grew 11% YoY.
The company slightly hoisted its guidance for the fiscal third quarter, but not by enough to write home about. Still, shares of the company surged over 18% on the news.
For the full year, management said that adjusted free cash flow of $910 million to $930 million should yield a free cash flow margin of 28% to 29%.
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