Latest news with #enterpriseSpending
CNA
5 days ago
- Business
- CNA
CrowdStrike forecasts downbeat second-quarter revenue, shares fall
CrowdStrike forecast second-quarter revenue below Wall Street estimates, signaling soft enterprise spending on cybersecurity products, sending the company's shares down 6.7 per cent after the bell on Tuesday. Higher interest rates and sticky inflation have forced clients to rein in tech spending, weighing on demand for companies such as CrowdStrike, despite an increasing need for robust cybersecurity solutions due to rising threats and ransomware attacks. The Department of Government Efficiency's efforts to cut costs could negatively impact the cybersecurity forecast for 2025 as the U.S. federal, state and local government contract environment appears to be significantly more challenging, brokerage William Blair said in April. Tariffs and macroeconomic uncertainty are likely to influence future client spending, the brokerage added. CrowdStrike also faces stiff competition from other cybersecurity firms including Palo Alto Networks and Fortinet. CrowdStrike reported total revenue of $1.10 billion in the first quarter, in line with expectations. The company forecast second-quarter revenue to be between $1.14 billion and $1.15 billion, compared with analysts' average estimate of $1.16 billion, according to data compiled by LSEG.
CNA
5 days ago
- Business
- CNA
CrowdStrike forecasts second-quarter revenue below estimates
CrowdStrike forecast second-quarter revenue below estimates, signaling soft enterprise spending on cybersecurity products, sending the company's shares down 6.7 per cent in after-hours trading on Tuesday. Higher interest rates and sticky inflation have forced clients to rein in tech spending, weighing on demand for companies such as CrowdStrike, despite an increasing need for robust cybersecurity solutions due to rising threats and ransomware attacks. CrowdStrike also faces stiff competition from other cybersecurity firms including Palo Alto Networks and Fortinet. CrowdStrike expects second-quarter revenue to be between $1.14 billion and $1.15 billion, compared with analysts' average estimate of $1.16 billion, according to data compiled by LSEG.
Reuters
5 days ago
- Business
- Reuters
CrowdStrike forecasts second-quarter revenue below estimates
June 3 (Reuters) - CrowdStrike (CRWD.O), opens new tab forecast second-quarter revenue below estimates, signaling soft enterprise spending on cybersecurity products, sending the company's shares down 6.7% in after-hours trading on Tuesday. Higher interest rates and sticky inflation have forced clients to rein in tech spending, weighing on demand for companies such as CrowdStrike, despite an increasing need for robust cybersecurity solutions due to rising threats and ransomware attacks. CrowdStrike also faces stiff competition from other cybersecurity firms including Palo Alto Networks (PANW.O), opens new tab and Fortinet (FTNT.O), opens new tab. CrowdStrike expects second-quarter revenue to be between $1.14 billion and $1.15 billion, compared with analysts' average estimate of $1.16 billion, according to data compiled by LSEG.
