(Reuters) -CrowdStrike forecast for third-quarter revenue disappointed on Wednesday, a sign of cautious spending by clients facing economic uncertainty, sending its shares down nearly 7% in extended trading.
The cybersecurity company expects current-quarter revenue to be between $1.21 billion and $1.22 billion, broadly in line with analysts’ average estimate of $1.23 billion, according to data compiled by LSEG.
The company has said some customers were taking longer to approve deals and were relying on previously granted support programs following last year’s Windows outage, creating a short-term gap between contracted business and revenue recognition.
Its second-quarter revenue rose 21% to $1.17 billion, beating analysts’ estimates of $1.15 billion.
The adjusted profit of 93 cents per share exceeded estimates of 83 cents apiece for the quarter ended July 31.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Alan Barona)
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