{"id":209223,"date":"2024-03-01T07:24:45","date_gmt":"2024-03-01T07:24:45","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/03\/01\/zscaler-earnings-top-expectations-but-the-cybersecurity-stock-falls\/"},"modified":"2025-06-25T17:21:25","modified_gmt":"2025-06-25T17:21:25","slug":"zscaler-earnings-top-expectations-but-the-cybersecurity-stock-falls","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/03\/01\/zscaler-earnings-top-expectations-but-the-cybersecurity-stock-falls\/","title":{"rendered":"Zscaler earnings top expectations, but the cybersecurity stock falls"},"content":{"rendered":"

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Zsacler Inc. topped expectations with its latest results and outlook, but its stock was moving lower in Thursday\u2019s extended session.<\/p>\n

For the fiscal third quarter, Zscaler
\n ZS,
\n +1.97%<\/bg-quote><\/a>
\n expects $534 million to $536 million in revenue along with 64 cents to 65 cents in adjusted earnings per share. The FactSet consensus was for $532 million and 58 cents, respectively. <\/p>\n

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The cybersecurity company posted a fiscal second-quarter net loss of $28.5 million, or 19 cents a share, compared with a loss of $57.5 million, or 40 cents a share, in the year-earlier period. <\/p>\n

On an adjusted basis, Zscaler earned 76 cents a share, compared with 37 cents a share a year before, while analysts tracked by FactSet were modeling 58 cents a share. <\/p>\n

Revenue rose to $525 million from $388 million, whereas the FactSet consensus was for $508 million. <\/p>\n

The company saw calculated billings of $628 million, while analysts had been looking for $611 million. <\/p>\n

\u201cAn 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,\u201d Chief Executive Jay Chowdhry said in a release.<\/p>\n

Shares of Zscaler fell 7.6% in after-hours trading Thursday.<\/p>\n<\/p><\/div>\n<\/div>\n

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