Zsacler Inc. impresses analysts with its latest financial results and optimistic outlook for the future, yet experiences a decrease in stock value in Thursday's extended trading session.
Key Highlights
For the fiscal third quarter, Zscaler anticipates generating revenue between $534 million and $536 million, as well as adjusted earnings per share ranging from 64 cents to 65 cents. This surpasses the FactSet consensus of $532 million revenue and 58 cents earnings per share.
The cybersecurity company reports a net loss of $28.5 million in the fiscal second quarter, equivalent to 19 cents per share, a significant improvement compared to the loss of $57.5 million and 40 cents per share in the previous year.
On an adjusted basis, Zscaler records earnings of 76 cents per share, a notable increase from 37 cents per share in the previous year, exceeding analysts' expectations of 58 cents per share.
Revenue climbed to $525 million from $388 million, exceeding the FactSet consensus of $508 million.
Zsacler Inc. achieved calculated billings of $628 million, outperforming analyst predictions of $611 million.
Transforming Cybersecurity Landscape
In light of these results, Chief Executive Jay Chowdhry highlighted, "An increasing number of customers are recognizing the limitations of conventional firewall-based security and are choosing to revamp their security infrastructure with Zero Trust architecture."
Despite these positive outcomes, shares of Zscaler experienced a slight decrease of approximately 5% in after-hours trading on Thursday.
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