Zscaler Inc. shares rallied in the extended session Thursday, adding to the day’s gains after the cybersecurity company’s quarterly results and outlook exceeded Wall Street expectations.
shares surged 7% after hours, following a 4.4% rise in the regular session to close at $154.25.
The company reported a fiscal fourth-quarter loss of $97.7 million, or 69 cents a share, compared with a loss of $81 million, or 59 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 25 cents a share, compared with 14 cents a share in the year-ago period.
Revenue rose to $318.1 million from $197.1 million in the year-ago quarter, the company said. Calculated billings, or revenue plus deferred revenue acquired over the quarter, rose to $520.4 million from $332.2 million in the year-ago period.
Analysts surveyed by FactSet had forecast earnings of 21 cents a share on revenue of $305.4 million and billings of $467.2 million.
Zscaler said it expects adjusted earnings of about 26 cents a share on revenue of $339 million to $341 million for the fiscal first quarter. Analysts estimate 21 cents a share on revenue of $325.1 million and billings of $329.1 million for the quarter.
The company also forecast adjusted earnings of $1.16 to $1.18 a share on revenue of $1.49 billion to $1.5 billion for the year and billings of $1.92 billion to $1.94 billion.
Analysts had forecast earnings of $1.04 a share on revenue of $1.47 billion and billings of $1.86 billion for the year.
As of Thursday’s close, the stock is down 52% year to date, compared with a 16% loss by the S&P 500 index
a 24% declines on both the tech-heavy Nasdaq Composite Index
and the ETFMG Prime Cyber Security ETF