Cybersecurity firm CrowdStrike cuts annual revenue forecast

:CrowdStrike cut its annual revenue forecast on Wednesday, in a sign that demand for its cybersecurity products could have taken a hit from last month’s global Windows outage caused by a faulty update from the company.
The results follow the July 19 outage that caused widespread disruptions to internet services, leaving thousands of people stranded at airports after mass flight cancellations and causing broadcasters to go off-air.
The results suggest that rivals, including SentinelOne and Palo Alto Networks, are gaining market share at the expense of CrowdStrike after the outage.
Both SentinelOne and Palo Alto Networks raised their annual revenue forecasts this month.
CrowdStrike expects annual revenue to be between $3.89 billion and $3.90 billion, compared with its prior expectations of between $3.98 billion and $4.01 billion. Analysts on average were expecting $3.95 billion, according to LSEG data.
It expects annual adjusted profit per share to be between $3.61 and $3.65, compared with its prior estimates of $3.93 to $4.03.
Shares of the company were up more than 2 per cent in choppy extended trading.