Zscaler (NASDAQ:ZS) earnings for fiscal third quarter of 2020 have ZS stock flying higher on Friday. That’s due to its adjusted earnings per share of 7 cents easily beating out Wall Street’s estimate of 2 cents. The company’s revenue of $110.52 million also comes in above analysts’ estimates of $106.3 million.
Here are some additional highlights from the most recent Zscaler earnings report.
- Adjusted per-share earnings are up 40% from 5 cents in the fiscal third quarter of 2019.
- Revenue for the quarter is sitting 39.7% higher than the $79.13 million reported during the same time last year.
- Operating loss of $20.51 million is 51.5% wider year-over-year than a loss of $13.54 million.
- The Zscaler earnings report also includes a net loss of $19.34 million.
- That’s 58% worse than the company’s net loss of $12.24 million from the same period of the year prior.
Jay Chaudhry, chairman and CEO of Zscaler, said this in the fiscal Q3 earnings report:
“Our strong results are a reflection of our sales execution and the entire Zscaler team stepping up to help our customers succeed in these difficult times. The mitigation activities taken by every enterprise in response to the COVID-19 pandemic created an immediate need for strong security and access to the internet and business applications, all while working from anywhere.”
Zscaler also includes an outlook for fiscal 2020 in the current earnings report. It expects adjusted EPS of 20 cents to 21 cents with revenue ranging from $422 million to $424 million. For comparison, Wall Street is expecting adjusted EPS of 15 cents on revenue of $415.67 million.
ZS stock was up 26.2% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.