Why Zscaler Stock Popped This Morning
Shares of Zscaler (NASDAQ: ZS) popped as much as 14% this morning after the company reported fiscal second-quarter earnings. The results easily topped expectations, and guidance was mixed. As of 12:35 p.m. EST, the stock had given back much of those gains and was up just 4%.
Revenue in the fiscal second quarter was $157 million, compared to the consensus estimate of $147.4 million. That resulted in adjusted net income of $14 million, or $0.10 per share. Wall Street analysts were looking for just $0.08 per share in adjusted profits. The cloud-based cybersecurity technology company said calculated billings jumped 71% to $232 million.
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Source Fool.com
