Why Zscaler Stock Soared on Friday

Shares of Zscaler (NASDAQ: ZS) surged on Friday after the cloud security leader reported impressive growth metrics. By the close of trading, Zscaler's stock price was up nearly 22%. 

Zscaler's revenue rocketed 61% year over year to $318.1 million in its fiscal 2022 fourth quarter, which ended on July 31. That topped Wall Street's expectations; analysts had projected revenue of $305 million. 

"Despite the uncertain macroeconomic landscape which continues to evolve, we continue to see favorable demand for our Zero Trust Exchange platform because it makes businesses more secure, simplifies IT, and reduces cost," CEO Jay Chaudhry said in a press release.

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Source Fool.com