Major IT Outage hits banks, airlines, businesses worldwide

Screens and tech services across the globe were hit by last year’s CrowdStrike outage (Diego Radames/Getty Images)

CrowdStrike’s mixed earnings report sends stock lower as company seeks to put last year’s outage in the rearview

CrowdStrike reported first-quarter earnings after the bell Tuesday.

6/3/25 3:35PM

It was nearly a year ago that CrowdStrike reached household name status following a software glitch that caused possibly the largest IT outage ever. The cybersecurity firm’s first-quarter earnings report, posted Tuesday, highlights its continued efforts to move past it.

CrowdStrike posted earnings per share of $0.73, beating analysts’ estimates of $0.66 per share. Its revenue rose 20% year over year to $1.1 billion, a hair shy of the Wall Street consensus. The company posted annual recurring revenue of $4.44 billion, up 22%.

For its second quarter, CrowdStrike expects sales of between $1.14 billion and $1.15 billion and adjusted earnings of $0.82 to $0.84. That’s compared to analysts’ expectations for $1.16 billion in revenue and earnings of $0.81, according to FactSet.

Investors were nonplussed, sending CrowdStrike shares, which have soared lately, down more than 6% after the report.

Last year, CrowdStrike reported $60 million in costs related to its outage. In its latest earnings, the company reported another $39.7 million in outage costs. CrowdStrike has projected millions of dollars more tied to discounts the company has offered customers as a mea culpa.

Despite costs still lingering, CrowdStrike shares have recovered, breaking record closing highs three times in the past week before Tuesday’s drop after the bell. The stock has more than doubled off the lows it fell to last July shortly after the outage.

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OpenAI’s ARR reached over $20 billion in 2025, CFO says

Sam Altman’s $500 billion artificial intelligence behemoth hit a major financial milestone last year, according to a new blog post over the weekend from OpenAI CFO Sarah Friar, as the company confirmed it had hit a more than $20 billion annual revenue run rate at the end of 2025.

Elsewhere in the blog post, Friar spent time addressing the company’s shifting goals, referencing plans to “close the distance between where intelligence is advancing and how individuals, companies, and countries actually adopt and use it.” As has become customary in the AI company press release genre, the CFO was also keen to tout the unending growth of the business, writing:

“Both our Weekly Active User (WAU) and Daily Active User (DAU) figures continue to produce all-time highs. This growth is driven by a flywheel across compute, frontier research, products, and monetization.”
“Compute grew 3X year over year or 9.5X from 2023 to 2025: 0.2 GW in 2023, 0.6 GW in 2024, and ~1.9 GW in 2025.”

And, perhaps most importantly for current backers and those keeping an eye on the private company before its rumored mega IPO:

“Revenue followed the same curve growing 3X year over year, or 10X from 2023 to 2025: $2B ARR in 2023, $6B in 2024, and $20B+ in 2025. This is never-before-seen growth at such scale.”

That latest figure has certainly set tongues in the tech world wagging, just as the company announced it would begin rolling out ads to free and ChatGPT Go users. It also puts the chatbot giant a fair way ahead of competitors like Anthropic, the company behind Claude.

OpenAI Anthropic ARR race — Sherwood News

A business that scales with the value of intelligence

“Both our Weekly Active User (WAU) and Daily Active User (DAU) figures continue to produce all-time highs. This growth is driven by a flywheel across compute, frontier research, products, and monetization.”
“Compute grew 3X year over year or 9.5X from 2023 to 2025: 0.2 GW in 2023, 0.6 GW in 2024, and ~1.9 GW in 2025.”