Dec 2 (Reuters) – CrowdStrike forecast fourth-quarter revenue above analysts’ estimates on Tuesday, as the cybersecurity firm benefits from growing adoption of AI across its product suite.
Shares of the company rose about 1% in extended trading.
The company has been rolling out AI-driven features on its Falcon platform, including new detection and triage tools launched in September, as part of a broader push to consolidate security operations and attract customers seeking integrated solutions.
“We are capitalizing on the AI-driven demand environment as customers consolidate on the Falcon platform, driving our pipeline to an all-time high,” CFO Burt Podbere said.
The demand for cybersecurity continues to be robust, as companies ramp up investments in AI-powered security systems to counter a surge in sophisticated digital threats, benefiting companies such as CrowdStrike.
The upbeat outlook marks a turnaround for the Texas-based firm, which faced reputational damage last year after a faulty software update triggered widespread outages on Windows systems, and disrupted hospitals, banks and airports.
CrowdStrike sees fourth-quarter revenue between $1.29 billion and $1.30 billion, compared with analysts’ estimates of $1.22 billion according to data compiled by LSEG.
The company also increased its full-year revenue outlook to between $4.80 billion and $4.81 billion.
For the third quarter, the company posted revenue growth of 22% to $1.23 billion, compared with estimates of $1.22 billion.
(Reporting by Kritika Lamba in Bengaluru; Editing by Krishna Chandra Eluri)
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