CrowdStrike drops about 6% on lackluster guidance, ongoing impact from July IT outage
Summary
CrowdStrike reported quarterly results that beat earnings expectations but issued softer-than-expected revenue guidance for the current quarter. The company said the lingering effects of last July’s outage continue to weigh on revenue and customer incentives. It also disclosed requests for information from the U.S. Justice Department and the SEC about revenue recognition and related matters. CrowdStrike announced a $1 billion share repurchase plan alongside the results. The stock fell about 6% after the guidance and ongoing operational issues disappointed investors.
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AI & Machine learning
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Cybersecurity Software
Endpoint Security
Cloud Security
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CrowdStrike
$1B+