CrowdStrike (NASDAQ) saw its shares slip in premarket trading after the cybersecurity firm’s Q2 results, released on August 30, met expectations but were overshadowed by a disappointing full-year guidance. The company’s revenue for the quarter rose by 31.7% year-over-year to $963.9 million, slightly beating analysts’ estimates. However, the guidance for the upcoming quarter, projected at $982 million, came in below expectations, causing concerns among investors.
Despite a strong performance in revenue and profitability, the downward revision of full-year revenue estimates to $3.90 billion from the previously anticipated $3.99 billion led to investor apprehension. The company’s non-GAAP earnings per share (EPS) for the quarter also beat estimates, reaching $1.04 compared to the expected $0.97.
CrowdStrike’s recent IT outage, which resulted in service disruptions, compounded the market’s unease. While the company remains a leader in the cybersecurity space, with solid fundamentals, the combination of operational challenges and tempered guidance has put pressure on its stock.
