CrowdStrike (NASDAQ:CRWD) shares surged more than 7% intra-day today on the company's increased full-year guidance after reporting Q1 results that surpassed both revenue and earnings expectations, driven by the growing demand for cybersecurity amid the AI data boom.

For Q1, the company reported adjusted earnings of $0.93 per share on revenue of $921 million, surpassing analyst expectations of $0.89 per share on revenue of $904.56 million. Annual recurring revenue, a key performance indicator for its subscription services, increased by 33% year-over-year. The non-GAAP subscription gross margin remained steady at 78%, the same as the previous year.

CrowdStrike updated its fiscal 2025 forecast, now projecting adjusted EPS between $3.93 and $4.03, and revenue ranging from $3.98 billion to $4.01 billion. This is an improvement from the previous guidance of EPS between $3.77 and $3.97, and revenue of $3.92 billion to $3.99 billion.

For the second quarter, CrowdStrike expects an adjusted EPS of $0.98 to $0.99 on revenue between $958.3 million and $961.2 million, exceeding Wall Street's estimates of $0.91 on revenue of $954.6 million.