Investing.com — Zscaler reported Tuesday better-than-expected guidance for the current quarter and fiscal fourth-quarter results that topped Wall Street estimates as rising cybersecurity bolstered new business wins.
Zscaler Inc (NASDAQ:) rose more than 5% in afterhours following the report. The stock has racked up gains of about 45% higher so far this year.
The company adjusted EPS of $0.64 on revenue of $455.0 million, topping estimates for $0.49 and $430.4M, respectively.
The beat comes as ongoing demand for cybersecurity underpinned billings.
Calculated billings grew 38% year-over-year to $719.3M (NYSE:).
“With cyber security as a high priority, IT executives are modernizing their legacy network security with our zero-trust architecture,” said Jay Chaudhry, Chairman and CEO of Zscaler.
Looking ahead to fiscal Q1, the company forecasts adjusted net income per share of approximately $0.48 to $0.49 on revenue of $472M to $474M, compared with estimates for $0.46 on revenue of $464.7M.
For fiscal 2024, adjusted net income per share was forecast in a range of $2.20 to $2.25 on revenue of $2.050B to $2.065B.