Shares of several cybersecurity firms are trading lower in Tuesday's after-hours session in the wake of CrowdStrike Holdings Inc's CRWD third-quarter results.
Some of the cybersecurity stocks moving lower include Zscaler Inc ZS, Palo Alto Networks Inc PANW, and Fortinet Inc FTNT.
- CRWD Q1 Revenue: $581 million beat estimate of $573.82
- CRWD Q1 EPS: $0.40 beat estimate of $0.31
"Total net new ARR was below our expectations as increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates, which delays ARR recognition until future quarters," said Geroge Kurtz, co-founder and CEO of CrowdStrike.
Outlook: CrowdStrike sees fourth-quarter revenue between $619.1 million and $628.2 million versus estimates of $632.84 million. The company expects fourth-quarter earnings to be between 42 cents and 45 cents per share versus estimates of 34 cents per share.
Full-year revenue is expected to be between $2.223 billion and $2.232 billion versus estimates of $2.23 billion. CrowdStrike said full-year earnings are expected to be in a range of $1.49 to $1.52 per share versus estimates of $1.32 per share.
ZS, PANW, FTNT Price Action: At publication time, Zscaler was down 5.82%, Palo Alto was down 3.37% and Fortinet was down 2.79%, according to Benzinga Pro.
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