(Reuters) -CrowdStrike Holdings Inc raised its annual forecast for revenue and profit on Wednesday, as spending on cybersecurity products stays strong in a turbulent economy.
A rise in cyber attacks and growing digital presence of businesses and governments have lifted the demand for cybersecurity software, cushioning the blow from technology budgets cuts in the face of high interest rates and inflation.
Shares of the Austin, Texas-based company, however, fell 10% after the bell.
The company expects 2024 revenue in the range of $3 billion and $3.04 billion, compared with its previous forecast of $2.96 billion and $3.01 billion.
Excluding items, the company expects 2024 net income per share of $2.32 and $2.43, compared with $2.21 and $2.39 projected earlier.
Analysts on average expect 2024 revenue of $3 billion, according to Refinitiv data.
(Reporting by Vansh Agarwal in Bengaluru; Editing by Shilpi Majumdar)
