Why Shares of Zscaler Slumped Today

Shares of Zscaler (NASDAQ: ZS) were down on Friday after the software-as-a-service (SaaS) provider reported disappointing fiscal second-quarter results. While the company beat analyst estimates for revenue and earnings, sluggish billings growth and a weak earnings forecast overshadowed the headline numbers. Zscaler stock was down 14.4% at 11:40 a.m. EST today.

Second-quarter revenue was $101.3 million, up 36% year over year and $2.25 million above the average analyst estimate. Adjusted earnings per share came in at $0.09, flat from the prior-year period and $0.06 higher than analysts expected.

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Source Fool.com