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CrowdStrike revises annual revenue downward following international IT outage
(MENAFN) CrowdStrike has revised its annual revenue projections downward after a software update in July led to a significant global IT outage, as detailed in the company's financial results statement released on Wednesday. The American cybersecurity firm now anticipates its annual revenue for the fiscal year 2025 to range between USD3.89 billion and USD3.9 billion. This updated forecast is lower than the company's previous estimate, which had projected revenues between USD3.98 billion and USD4.01 billion. The adjustment reflects the impact of the July incident, which affected numerous systems worldwide.
In addressing the situation, CrowdStrike's CEO, George Kurtz, emphasized the company's resilience and commitment to its customers. Despite the challenges posed by the outage, Kurtz highlighted that the incident has only strengthened CrowdStrike's resolve to innovate and focus on customer satisfaction. He noted that working closely with clients to recover from the disruption has reinforced the company's dedication to its customer base, positioning CrowdStrike to continue making aggressive investments in technological advancements.
The global IT outage caused by the software update was widespread, impacting thousands of computers globally and disrupting devices running the Windows operating system. The scale of the incident underscored the critical nature of cybersecurity and the potential consequences of software issues. The company's response to the crisis and its ongoing recovery efforts have been closely watched by industry observers and customers alike, as they seek to understand the long-term implications of the outage on CrowdStrike's operations and reputation.
Despite the challenges of the past quarter, CrowdStrike reported strong financial performance, with total revenue for the second quarter of fiscal year 2025 reaching USD963.9 million. This represents a 32 percent increase from the USD731.6 million reported in the same quarter of the previous fiscal year. Additionally, net income attributable to CrowdStrike saw a substantial rise, coming in at USD47 million, compared to USD8.5 million during the same period in fiscal 2024. Following the release of the financial results, CrowdStrike shares saw a positive reaction, rising by 3.99 percent in after-hours trading on the Nasdaq, indicating investor confidence in the company's future prospects despite the recent setback.
In addressing the situation, CrowdStrike's CEO, George Kurtz, emphasized the company's resilience and commitment to its customers. Despite the challenges posed by the outage, Kurtz highlighted that the incident has only strengthened CrowdStrike's resolve to innovate and focus on customer satisfaction. He noted that working closely with clients to recover from the disruption has reinforced the company's dedication to its customer base, positioning CrowdStrike to continue making aggressive investments in technological advancements.
The global IT outage caused by the software update was widespread, impacting thousands of computers globally and disrupting devices running the Windows operating system. The scale of the incident underscored the critical nature of cybersecurity and the potential consequences of software issues. The company's response to the crisis and its ongoing recovery efforts have been closely watched by industry observers and customers alike, as they seek to understand the long-term implications of the outage on CrowdStrike's operations and reputation.
Despite the challenges of the past quarter, CrowdStrike reported strong financial performance, with total revenue for the second quarter of fiscal year 2025 reaching USD963.9 million. This represents a 32 percent increase from the USD731.6 million reported in the same quarter of the previous fiscal year. Additionally, net income attributable to CrowdStrike saw a substantial rise, coming in at USD47 million, compared to USD8.5 million during the same period in fiscal 2024. Following the release of the financial results, CrowdStrike shares saw a positive reaction, rising by 3.99 percent in after-hours trading on the Nasdaq, indicating investor confidence in the company's future prospects despite the recent setback.
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