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Zscaler results, outlook exceed Wall Street expectations, stock ticks higher

MarketWatch logo MarketWatch 9/10/2021 Wallace Witkowski
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EARNINGS RESULTS

Zscaler Inc. late Thursday exceeded Wall Street expectations on quarterly results and outlook, and the stock price of the cybersecurity company rose 2.5% in the extended session after more than doubling over the past year.


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Zscaler  reported a fiscal fourth-quarter loss of $81 million, or 59 cents a share, compared with a loss of $49.5 million, or 38 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 14 cents a share, compared with 8 cents a share in the year-ago period.

Revenue rose to $197.1 million from $125.9 million in the year-ago quarter. Calculated billings, which is revenue plus deferred revenue acquired over the quarter, rose to $332.2 million from $194.9 million in the year-ago period.

Analysts surveyed by FactSet had forecast earnings of 9 cents a share on revenue of $186.8 million and billings of $278.1 million.

“We delivered outstanding results for the fourth quarter, with a record number of large deals across diverse sectors, driving 57% revenue growth and 70% billings growth year over year, finishing the fiscal year with strong business momentum,” said Jay Chaudhry, Zscaler chairman and chief executive, in a statement.

Zscaler expects adjusted earnings of about 12 cents a share on revenue of $210 million to $212 million for the fiscal first quarter, and 52 cents to 56 cents a share on revenue of $940 million to $950 million for the year and billings of $1.23 billion to $1.25 billion.

Analysts had forecast earnings of 12 cents on revenue of $199.4 million for the fiscal first quarter, and 54 cents a share on revenue of $899.1 million for the year and billings of $1.15 billion for the year.

Shares rose 2.5% after hours, following a 0.2% decline in the regular session to close at $280.22. The stock is already up 109% over the past 12 months as of Thursday’s close, compared with a 32% gain by the S&P 500 index   a 37% advance for the tech-heavy Nasdaq Composite Index    and a 39% rise by the ETFMG Prime Cyber Security ETF 

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