CrowdStrike beats quarterly consensus but lowers full-year guidance

CrowdStrike shares slipped 4% in extended trading on Wednesday after the cybersecurity software maker reported strong fiscal second-quarter results but reduced full-year guidance in the wake of a global outage.

Here is how the company did compared to LSEG consensus:

CrowdStrike's revenue grew 32% year over year in the quarter, which ended July 31, according to a statement. The company recorded net income of $47 million, or 19 cents per share, compared to $8.47 million, or 3 cents per share, in the same quarter a year ago.

Annual recurring revenue was $3.86 billion, just above the StreetAccount consensus of $3.85 billion.

On July 19, CrowdStrike distributed a flawed content configuration update for its Falcon sensor to computers running Microsoft Windows operating systems, with the intent to gather data on new attacks. The error caused millions of computers to crash, leading to flight cancellations, delayed packaged deliveries and postponed medical appointments. Administrators had to manually reboot affected computers.

CEO George Kurtz apologized to clients and partners and said the company had rolled out a fix. Meanwhile, investors were pushing down CrowdStrike's share price. Shareholders have filed suit against the company, and Delta Air Lines, which cited $380 million in lost revenue and $170 million in costs because of the incident, said it will seek damages. Travelers have filed class action lawsuits against CrowdStrike as well.

"All customers are looking for some kind of discount," Gray Powell and Trevor Rambo of BTIG, with the equivalent of a hold rating on CrowdStrike shares, wrote in an Aug. 23 note.

With respect to guidance, CrowdStrike called for adjusted net earnings of 80 cents to 81 cents per share on $979.2