Zscaler Inc. shares popped in the extended session Wednesday after the cybersecurity company’s quarterly results and higher full-year outlook breezed past Wall Street expectations.
Zscaler
ZS,
-0.95%
shares surged 7% after hours, following a 1% decline in the regular session to close at $172.74.
The company reported a fiscal third-quarter loss of $58.5 million, or 43 cents a share, compared with a loss of $19.3 million, or 15 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 15 cents a share, compared with 7 cents a share in the year-ago period.
Revenue rose to $176.4 million from $110.5 million in the year-ago quarter. Calculated billings, which is revenue plus deferred revenue acquired over the quarter, rose to $225 million from $131.3 million in the year-ago period.
Analysts surveyed by FactSet had forecast earnings of 7 cents a share on revenue of $163.7 million and billings of $185.4 million.
“Our Zero Trust Exchange platform is helping customers realize their digital transformation goals and architect for the new normal of the work-from-anywhere economy,” said Jay Chaudhry, Zscaler chairman and chief executive, in a statement. “With strong business momentum, we are pleased to again increase our fiscal year guidance.”
Zscaler expects adjusted earnings of 8 cents to 9 cents a share on revenue of $185 million to $187 million for the fiscal fourth quarter, and about 47 cents a share on revenue of $660 million to $664 million for the year. Analysts had forecast earnings of 9 cents on revenue of $173.9 million for the fiscal fourth quarter, and 40 cents a share on revenue of $637.5 million for the year.
As of Tuesday’s close, the stock is up 125% over the past 12 months, compared with a 42% gain by the S&P 500 index
SPX,
-0.21%,
a 46% advance for the tech-heavy Nasdaq Composite Index
COMP,
-0.03%,
and a 35% rise by the ETFMG Prime Cyber Security ETF
HACK,
-0.38%.
