Why Zscaler Stock Dropped 10.8% In December
Shares of Zscaler (NASDAQ: ZS) declined 10.8% in December, according to data from S&P Global Market Intelligence, after the company followed stronger-than-expected fiscal first-quarter 2020 results with an underwhelming forward outlook.
To be sure, the bulk of the cybersecurity stock's decline came on the heels of its Dec. 3, 2019, quarterly update. Zscaler's revenue soared 48% year over year to $93.6 million, translating to adjusted (non-GAAP) net income of $0.03 per share. Both figures easily exceeded consensus estimates at the time for earnings of a penny per share on revenue of $89.8 million.
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Source Fool.com
