CRWD

CrowdStrike forecasts strong Q4 revenue on resilient cybersecurity demand

Nov 28 (Reuters) - CrowdStrike Holdings CRWD.O on Tuesday forecast fourth-quarter revenue above Wall Street estimates, driven by resilient demand for its cybersecurity offerings in the wake of rising online threats.

Rising cyber threats, ransomware attacks and hacking incidents have triggered demand for cybersecurity offerings as businesses try to ensure safety against hackers who steal sensitive data.

The high-profile breaches at gambling giants MGM Resorts International MGM.N, Caesars Entertainment CZR.O and the cleaning supplies maker Clorox CLX.N laid bare the need for robust cyber safety measures.

Austin, Texas-based CrowdStrike expects current-quarter revenue between $836.6 million and $840.0 million, the mid-point of which is above analysts' estimates of $836.7 million, according to LSEG data.

For the third quarter ended Oct. 31, the company posted revenue of $786.0 million, beating estimates of $777.1 million. Its adjusted profit per share came in at 82 cents, above estimates of 74 cents per share.

Adjusted net income attributable to CrowdStrike for the third quarter rose to $199.2 million, from $96.1 million a year earlier.

CrowdStrike raised its annual revenue outlook to a range of $3,046.8 million to $3,050.2 million, up from its earlier forecast of between $3,030.7 million and $3,042.9 million.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)

((Jaspreet.Singh@thomsonreuters.com; https://twitter.com/i_jass;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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