CyberArk Software Q2: Revenue Jumps 28% With Strong Subscription Growth, 2024 Outlook Raised
Portfolio Pulse from Anusuya Lahiri
CyberArk Software Ltd (NASDAQ:CYBR) reported a strong fiscal second-quarter 2024 with a 28% revenue increase to $224.7 million, beating analyst estimates. The company also posted an adjusted EPS of 54 cents, surpassing expectations. Key performance indicators showed significant growth in subscription revenues and annual recurring revenue. The company raised its fiscal 2024 outlook, projecting higher revenues and adjusted EPS. CYBR stock gained 7.5% following the report.
August 08, 2024 | 3:27 pm
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CyberArk Software Ltd reported a strong fiscal second-quarter 2024 with a 28% revenue increase to $224.7 million, beating analyst estimates. The company also posted an adjusted EPS of 54 cents, surpassing expectations. Key performance indicators showed significant growth in subscription revenues and annual recurring revenue. The company raised its fiscal 2024 outlook, projecting higher revenues and adjusted EPS. CYBR stock gained 7.5% following the report.
The strong quarterly performance, beating both revenue and EPS estimates, along with raised guidance for fiscal 2024, indicates positive momentum for CyberArk. The significant growth in subscription revenues and annual recurring revenue further supports a bullish outlook. The stock's 7.5% gain post-announcement reflects investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100