Why Zscaler Stock Plunged Today

Shares of Zscaler (NASDAQ: ZS) fell 15.8% on Friday following the release of the cloud security leader's fiscal 2022 second-quarter results.

Zscaler's revenue surged 63% year over year to $255.6 million in the quarter, which ended on Jan. 31. That bested Wall Street's estimates, which had called for revenue of less than $242 million.

"The importance of our Zero Trust Exchange architecture has never been clearer to customers undertaking digital transformation," CEO Jay Chaudhry said in a press release. He added:

Source Fool.com