CrowdStrike Lowers Forecasts After Global Outage Affects Millions of Windows Devices. Can the Cybersecurity Company Rebound?
CrowdStrike cut its revenue and profit forecasts following a global outage in July caused by a faulty software update. The outage disrupted services for over 8 million Microsoft Windows devices and led to mass flight cancellations. The incident delayed some deals but most remain in the pipeline. The company expects challenges to persist for about a year, with growth reacceleration expected later. CrowdStrike reported better-than-expected Q2 revenue and profit, and analysts believe the high cost of switching providers may cushion its dominant position.
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00:00It's Benzinga, and here's what's on the block.
00:02CrowdStrike cut its revenue and profit forecast following a global outage in July caused by
00:07a faulty software update.
00:09The outage disrupted services for over 8 million Microsoft Windows devices and led to mass
00:13flight cancellations.
00:15The incident delayed some deals, but most remain in the pipeline.
00:18The company expects challenges to persist for about a year with growth re-acceleration
00:22expected later.
00:23CrowdStrike reported better than expected Q2 revenue and profit, and analysts believe
00:27the high cost of switching providers may cushion its dominant position.
00:31For all things money, visit Benzinga.com