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Cybersecurity firm CrowdStrike Holdings (CRWD) is seeing stock gains in extended-hours trading after beating earnings estimates for the second quarter: $963.9 million in revenue ($958.2 million expected) and adjusted earnings of $1.04 per share (expected $0.97 per share).
Market Domination Overtime anchors Seana Smith and Josh Lipton recap the company's results after a major outage in July affected global operations for a variety of companies and operators. CrowdStrike is also revising its third quarter and full-year guidance lower.
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This post was written by Luke Carberry Mogan.
Cybersecurity from CrowdStrike, just reporting a second quarter results. They're actually looking at gains of just about 1 and a half percent. Take you look at these numbers for its most recent quarter here. It did beat the second quarter revenue coming in at 963.9 million, adjusted EPS coming in at $1.04. But we know much of the focus in this report is really on the guidance. And the guidance there for the current fiscal third quarter and also for the full year, that was revised lower. So CrowdStrike now looking for full year revenue of 3.89 billion to 3.9 billion. Initially saw a range 3.98 billion to 4.01 billion. They also lowered their expectations of for their profit forecast for the year and for the third quarter. That was also revised lower. Remember, this is the first report that we are getting from CrowdStrike ever since their global outage just last month. So, two weeks of that have been included in that most recent quarter, but much of that is going to be felt here in the current quarter looking back looking ahead to the remainder of the second half of the year here, Josh, and the fact that they did lower their estimates, not necessarily a big surprise to this year.
Yeah, the focus here to your point, Josh, is going to be on the global outage and the fallout there. I mean, there have been outages before, of course, as cyber security companies have had to kind of navigate and deal with, not like this. I mean, this was historic. This was unprecedented. I will, you know, we have had though any number of analysts, I'll say who come on the show and have argued that they they did expect, of course, some near-term issues, but I'll say many did say, you know, listen, they they did think the impact could be short-lived and that um, that longer term they were still confident in demand for CrowdStrike's products. By the way, most, we should point out, are still bullish on this year. I mean, you look at analysts right now covering this name, more than 80% still have a buy on CrowdStrike.