Cybersecurity firm CrowdStrike reported second-quarter revenue of $1.47 billion, a 26% year-over-year increase, with adjusted earnings per share of 31 cents, surpassing Wall Street's expectation of 29 cents. The company added a record $332.8 million in net new annual recurring revenue (ARR), up 51% year-over-year. CrowdStrike also raised its full-year revenue forecast to between $5.99 billion and $6.01 billion and increased its net new ARR growth guidance by 630 basis points to 34%. Analysts noted that the widespread adoption of AI is driving enterprises to rebuild their security stacks, which in turn is boosting demand for CrowdStrike's security tools. Several institutions, including Needham, Morgan Stanley, and Goldman Sachs, raised their price targets for the stock. Boosted by this news, CrowdStrike's stock closed up 20.5% during Thursday's trading session.