CRWD falls despite earnings beat due to ARR miss takes centre stage

CrowdStrike shares slumped 11% in premarket trading on Thursday despite the cybersecurity company delivering better-than-expected quarterly results, as investors appeared unimpressed by annual recurring revenue growth and likely opted to lock in gains following a blistering rally. The stock had been one of the strongest performers in the software sector, rising about 60% in May alone and roughly 65% so far this year, fueled by optimism that artificial intelligence would drive a new wave of cybersecurity spending.