CrowdStrike raises forecasts amid cyberattack surge
Third-quarter revenue for CrowdStrike rose 29%, exceeding analyst expectations as the company expands its client base and services.
Cybersecurity firm CrowdStrike has increased its annual revenue and profit projections, reporting a 29% rise in third-quarter revenue to $1.01 billion, surpassing analyst estimates. The company credits robust demand for its comprehensive cybersecurity services as businesses address growing online threats. Notable clients, including AT&T and Ticketmaster, have faced recent cyberattacks, driving greater investment in digital defences.
CrowdStrike now expects annual revenue between $3.92 billion and $3.93 billion, up from previous forecasts. Adjusted profit per share estimates have also been raised to $3.74–$3.76. However, its fourth-quarter revenue outlook, in line with analyst expectations, led to a slight dip in share value.
Rival Palo Alto Networks has similarly seen strong growth, reflecting increased spending in the cybersecurity sector. Despite challenges such as a July outage, CrowdStrike maintains optimism for sustained growth, bolstered by its enhanced customer engagement programmes.
About author
DW Team
The GIP Digital Watch Observatory team, consisting of over 30 digital policy experts from around the world, excels in the fields of research and analysis on digital policy issues. The team is backed by the creative prowess of Creative Lab Diplo and the technical expertise of the Diplo tech team.