CrowdStrike CRWD reported second-quarter fiscal 2020 non-GAAP earnings of 3 cents per share against the Zacks Consensus Estimate of a loss of a penny as well as the year-ago quarter’s loss per share of 18 cents. Moreover, revenues of $199 million surged 84% year over year and beat the consensus mark of $188.6 million.Top-Line DetailsSubscription revenues jumped a whopping 89% year over year to $184.3 million. A 91% increase in subscription customers led to this impressive growth. CrowdStrike added 969 net new subscription customers in the quarter under review. The company had a total of 7,230 subscription customers as of Jul 31, 2020.Moreover, CrowdStrike’s subscription customers that adopted four or more cloud modules increased to 57% and those with five or more cloud modules rose to more than 39% as of Jul 31, 2020.CrowdStrike Holdings Inc. Price, Consensus and EPS Surprise CrowdStrike Holdings Inc. price-consensus-eps-surprise-chart | CrowdStrike Holdings Inc. QuoteRevenues from professional services soared 40% year over year to $14.7 million.The company added $104.5 million to its net new average run rate (ARR) year over year, achieving $790.6 million, up 87% from the year-ago quarter.Dollar-based net retention rate exceeded 120% in the reported quarter.Operating DetailsCrowdStrike’s non-GAAP gross margin expanded 200 basis points (bps) on a year-over-year basis to 75%. Subscription gross margin expanded 200 bps to 78%. However, professional services gross margin contracted 380 bps to 39.3%.Research & development (R&D) expenses as a percentage of revenues decreased 380 bps on a year-over-year basis to 20.8%. Moreover, general & administrative (G&A) expense declined 390 bps to 9%.Further, sales & marketing (S&M) expenses as a percentage of revenues were 41%, significantly down from 54.2% reported in the year-ago quarter.Total operating expenses as a percentage of revenues were 71% compared with 92% in the year-ago quarter.Non-GAAP operating income was $7.8 million against loss of $20.6 million reported in the year-ago quarter. Non-GAAP operating margin for the quarter was 3.9%.Balance Sheet & Cash FlowAs of Jul 31, 2020, cash and cash equivalents were $1.07 billion compared with $1 billion as of Apr 30, 2020.During the quarter, the company generated operating and free cash flows of $55 million and $32.4 million, respectively.GuidanceFor third-quarter fiscal 2021, CrowdStrike anticipates revenues between $210.6 million and $215 million. As far as the bottom line is concerned, the company expects to report between loss of 1 cent per share and break-even.For fiscal 2021, CrowdStrike raised its revenue guidance range to $809.1-$826.7 million from $761.2-$772.6 million projected earlier. The company now anticipates non-GAAP earnings per share of 2-8 cents compared with the previous expectations of non-GAAP loss per share in the band of 8-5 cents.Zacks Rank and Key PicksCurrently, CrowdStrike carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector include Apple AAPL, Lam Research Corporation LRCX and Synaptics SYNA, all sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate for Apple, Lam Research and Synaptics is currently pegged at 10.7%, 15.4%, and 10%, respectively.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Lam Research Corporation (LRCX): Free Stock Analysis Report Synaptics Incorporated (SYNA): Free Stock Analysis Report CrowdStrike Holdings Inc. (CRWD): Free Stock Analysis Report To read this article on Zacks.com click here.