CrowdStrike Holdings Inc on Tuesday forecast fourth-quarter revenue below Wall Street estimates, as an economic downturn hit spending for its cyber security services.The company expects revenue between $619.1 million and $628.2 million, compared with analysts' average estimate of $632.8 million, according to Refinitiv IBES data.
CrowdStrike also said increased macroeconomic headwinds elongated sales cycles with smaller customers, and caused some larger ones to pursue multi-phase subscription start dates, which delays annual recurring revenue recognition until future quarters.On an adjusted basis, the company earned 40 cents for the quarter ended Oct. 31, compared to estimates of 31 cents.
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