CrowdStrike Plunged 20% on Current-Quarter Revenue Forecast Below Estimates

Tiger Newspress2022-11-30

CrowdStrike Holdings Inc on Tuesday forecast fourth-quarter revenue below Wall Street estimates, as an economic downturn hit spending for its cyber security services.

Shares of the Austin, Texas-based company fell more than 20% in premarket trading.The company expects revenue between $619.1 million and $628.2 million, compared with analysts' average estimate of $632.8 million, according to Refinitiv IBES data.

CrowdStrike also said increased macroeconomic headwinds elongated sales cycles with smaller customers, and caused some larger ones to pursue multi-phase subscription start dates, which delays annual recurring revenue $(ARR)$ recognition until future quarters.

Total revenue for the third quarter was $580.8 million.

On an adjusted basis, the company earned 40 cents for the quarter ended Oct. 31, compared to estimates of 31 cents.

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Comments

  • 来人
    2022-11-30
    来人
    Ok 
  • Gackky
    2022-11-30
    Gackky
    get strike by the crowd
  • Musky
    2022-11-30
    Musky
    The plunge is the work of short sellers. Take the lower range of revenue forecast of Q4 at 619 mil. It is only 13 mil below analyst expectation n the stock plunged 20% equals to 6.4B. The maths doesnt add up
  • Smelly Tiger
    2022-11-30
    Smelly Tiger
    🫠
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