Zsacler Inc. has surpassed Expectations with its latest results and forecasts, but its stock was moving lower in Thursday's extended session.
For the third fiscal quarter, Zscaler ZS,
It expects $534 million to $536 million in revenue along with 64 cents to 65 cents in adjusted earnings per share. The FactSet consensus was $532 million and 58 cents, respectively.
The cybersecurity company reported a financial second-quarter net loss of $28.5 million, or 19 cents per share, compared with a loss of $57.5 million, or 40 cents per share, in the same period a year earlier.
On an adjusted basis, Zscaler earned 76 cents per share, compared with 37 cents per share a year earlier, while analysts tracked by FactSet had expected 58 cents per share.
Revenue rose to $525 million from $388 million, while the FactSet consensus was $508 million.
The company saw billings calculated at $628 million, while analysts were looking for $611 million.
“An increasing number of customers are realizing the shortcomings of traditional firewall-based security and are engaging with us to transform their legacy security to zero trust architecture,” CEO Jay Chowdhury said in a statement.
Zscaler shares fell 7.6% in after-hours trading Thursday.
