CrowdStrike Holdings Inc Stock News

The massive IT outage caused by a CrowdStrike software update in July led investors to sell off the cybersecurity stock. The company still posted strong earnings numbers for last quarter, but it did adjust its guidance.

Lloyd's of London's boss said the UK insurance centre had avoided a significant hit from the Crowdstrike IT outage in July because the policies written had 48-hour lapse periods included. Estimates of the cost of the incident in the UK alone are £1.7 billion-£2.7 bn, but Lloyds chair Bruce Carnegie-Brown said the insurance payouts were “not particularly big” because of the delay before insuranc...

CrowdStrike is reeling from a major outage caused by its cybersecurity platform.

CrowdStrike's CEO was apologetic but also determined in his remarks about the outage. The outage will be costly, but perhaps not as bad as it could have been.

CrowdStrike's results weren't drastically affected by the July 19 outage. It may be multiple quarters before investors can understand how the outage affected the business.

CrowdStrike's stock rose 19.6% in August 2024 but still lost more than 27% across the last two months. The July outage will be felt in the company's financial reports for years to come.

CrowdStrike Holdings, Inc. (NASDAQ:CRWD ) Citi's 2024 Global TMT Conference September 4, 2024 12:30 PM ET Company Participants Burt Podbere - CFO Conference Call Participants Fatima Boolani - Citigroup Fatima Boolani I'm Fatima Boolani. I jointly run the software research team here, and I have the absolute pleasure of hosting Burt Podbere, the CFO of CrowdStrike.

Almost half of CrowdStrike's customers with $100,000 in annual recurring revenue use at least eight of its modules. CrowdStrike's annual recurring revenue and free cash flow grew 32% and 44% year over year, respectively.