Crowdstrike Holdings Inc (NASDAQ:CRWD) stock fell 6.50% (As on August 31, 11:17:31 AM UTC-4, Source: Google Finance) though the company posted better than expected results for the second quarter of FY 23. Subscription revenue grew 60% over Q2 of last year to reach $506.2 million. Professional services revenue was $29.0 million, setting a new record for the eighth consecutive quarter and representing 32% year-over-year growth. In terms of the geographic performance in Q2, the company continued to see strong growth in the U.S. at 53% and international revenue growth at 73% year over year. Second quarter total and subscription non-GAAP gross margins remained relatively consistent at 76% and 78%, respectively. Non-GAAP net income attributable to CrowdStrike in Q2 also more than tripled over the prior year, growing to a record $85.9 million. Cash and cash equivalents increased to approximately $2.32 billion. Cash flow from operations grew 94% year over year to $209.9 million. Free cash flow grew 84% year over year to $135.8 million or 25% of revenue and reflects the planned increased capital investments, which more than doubled year over year.

CRWD in the second quarter of FY 23 has reported the adjusted earnings per share of 36 cents, beating the analysts’ estimates for the adjusted earnings per share of 28 cents. The company had reported the adjusted revenue growth of 58 percent to $535.2 million in the second quarter of FY 23, beating the analysts’ estimates for revenue of $515.98 million. In the quarter, ending ARR grew 59% year over year to surpass the $2 billion milestone. Net new ARR growth accelerated to 45% year over year.

CrowdStrike Holdings Inc. expects Q3 2023 EPS of $0.30-$0.32, versus the consensus of $0.28. CrowdStrike Holdings Inc. expects Q3 2023 revenue to be in the range of $569.1-575.9 million, versus the consensus of $568.6 million. For the third quarter of FY ’23, the company expects non-GAAP income from operations to be in the range of $72.7 million to $77.7 million and non-GAAP net income attributable to CrowdStrike to be in the range of $73.0 million to $78.0 million.

CrowdStrike Holdings Inc. expects FY2023 EPS of $1.31-$1.33, versus the consensus of $1.20. CrowdStrike Holdings Inc. expects FY2023 revenue to be in the range of $2.223-2.232 billion, versus the consensus of $2.2 billion. The company expects fiscal 2023 non-GAAP net income attributable to CrowdStrike to be between $313.7 million and $320.5 million.