CrowdStrike raises annual revenue forecast on strong cybersecurity demand

Aug 26 (Reuters) - CrowdStrike ‌beat second-quarter ​earnings ​estimates and raised its annual revenue forecast on Wednesday, as demand for ‌its cloud-based cybersecurity platform continued to grow.

Shares ⁠of the Austin, Texas-based company rose more than 10% ‌in extended trading.

• CrowdStrike ‌is a cloud-native cybersecurity software firm that helps businesses protect their computers, cloud systems, accounts ​and data from cyberattacks.

• Recent disclosures from Meta, Anthropic and OpenAI showed increasingly capable ⁠AI models exploiting vulnerabilities or breaching systems in cybersecurity testing, highlighting ​the hacking risks posed by the technology and the growing need for cybersecurity ​products.

• CrowdStrike CEO George ‌Kurtz said, "Every enterprise will run on AI, and securing it is the ⁠largest market opportunity in our history."

• The company posted second-quarter revenue of $1.47 billion, beating analysts' average estimate ⁠of $1.44 billion, according to data compiled by LSEG.

• Adjusted ​profit per share came in at 31 cents, beating analysts' estimate of 29 cents.

• The company raised its ‌full-year revenue forecast to between $5.991 billion and $6.01 billion, from a previous forecast ‌of between $5.91 billion and $5.96 billion.

• Annual recurring revenue ⁠was $5.84 billion at ‌the quarter-end, up ​25% from a year earlier.

(Reporting by Anzar Mehraj in Bengaluru; Editing by Vijay ‌Kishore)

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