CrowdStrike hit by weak forecast, US government request for information

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Nearly a year after CrowdStrike‘s botched cybersecurity update crippled airlines, banks and hospitals for hours, the company is still reeling from the fallout. Its shares fell more than 5% in afternoon trading. The program ended in the fourth quarter but continues to weigh on subscription growth, as it let customers pick more products or extend usage. The incentives reduced first-quarter revenue by about $11 million and will have a $10 million to $15 million impact each quarter for the rest of the fiscal year.

The outlook underscores the lingering…



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CrowdStrike hit by weak forecast, US government request for information


Nearly a year after CrowdStrike‘s botched cybersecurity update crippled airlines, banks and hospitals for hours, the company is still reeling from the fallout. Its shares fell more than 5% in afternoon trading. The program ended in the fourth quarter but continues to weigh on subscription growth, as it let customers pick more products or extend usage. The incentives reduced first-quarter revenue by about $11 million and will have a $10 million to $15 million impact each quarter for the rest of the fiscal year.

The outlook underscores the lingering…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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