Zscaler stock climbed late Thursday after the cybersecurity firm reported earnings, revenue and billings for its fiscal fourth quarter that topped Wall Street targets. Fiscal 2022 guidance for ZS stock also came in slightly above views.
San Jose, Calif-based Zscaler (ZS) said July-quarter earnings were 14 cents a share on an adjusted basis, up from 8 cents a year earlier. Revenue rose 57% to $197.1 million, the company said.
Analysts expected Zscaler earnings of 9 cents per share on sales of $186.8 million. Billings rose 70% to $332.2 million, compared with estimates of $283 million.
For fiscal 2022, which starts with the October quarter, Zscaler expects revenue of $945 million. Analysts had predicted $899 million. The company says it expects earnings in a range of 52 to 56 cents a share, in line with estimates of 54 cents.
Zscaler Stock Extended From Entry Point
Zscaler stock rose 1.1% to 283.30 in extended trading on the stock market today, after first edging down on the earnings release. Heading into the Zscaler earnings report, the company owned a Relative Strength Rating of 95 out of a best-possible 99, according to IBD Stock Checkup.
Zscaler stock jumped in 2020 amid a corporate shift to remote work amid the coronavirus crisis. It increased demand for its web security gateways that inspect customers’ data traffic for malware.
Zscaler provides cloud-based cybersecurity services via 150 data centers worldwide. The Zscaler Private Access, or ZPA cloud service, replaces virtual private networks, or VPNs, to support remote work.
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