Cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:CRWD) has reduced its revenue and profit forecasts following a global outage in July caused by a faulty software update.
Affecting internet services for 8.5 million Microsoft Windows devices, it led to widespread flight cancellations, while many organisations and businesses were also hit.
The company's annual revenue forecast has been adjusted to $3.89 billion to $3.90 billion, down from the previous estimate of $3.98 billion to $4.01 billion.
Additionally, CrowdStrike revised its annual adjusted profit per share forecast to $3.61 to $3.65, from the prior estimate of $3.93 to $4.03.
Meanwhile, competitors SentinelOne and Palo Alto Networks have raised their revenue forecasts, signalling potential market share gains.