Zscaler lifts annual guidance after Q1 results top Wall Street estimates
Investing.com -- Zscaler lifted its annual guidance Monday after reporting fiscal first-quarter results that topped Wall Street estimates as demand for was boosted by ongoing enterprise spending on cybersecurity.
Zscaler Inc (NASDAQ:ZS) was down more than 6% in afterhours trading.
For the three months ended on Oct. 31, the cybersecurity company reported adjusted EPS of $0.67 on revenue of $496.7 million. Analysts polled by Investing.com had expected EPS of $0.49 and revenue of $473.4M.
Calculated billings grew 34% year-over-year to $456.6M, but that was slower than the 38% growth seen in the prior quarter.
Looking ahead to its fiscal second-quarter, the company projected adjusted EPS of $0.57 to $0.58 on revenue of $505M to $507M, compared with estimates for $0.51 on revenue of $496.7M, respectively.
For its fiscal 2024, adjusted EPS was seen in a range of $2.45 to $2.48 on revenue of roughly $2.09B to $2.10B. That compared with a prior forecast for adjusted EPS in a range of $2.20 to $2.25 on revenue of $2.05B to $2.07B.
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