© Reuters.
Investing.com — Zscaler (NASDAQ:) reported fiscal fourth-quarter results that topped Wall Street estimates as rising cybersecurity demand bolstered new business wins.
San Jose-based Zscaler adjusted earnings per share of $0.64 on revenue of $455.0 million in the three months ended on July 31. Analysts polled by Bloomberg had called for $0.49 and $430.4M, respectively.
Calculated billings grew 38% year-over-year to $719.3M.
Looking ahead to its fiscal first-quarter, the company projected adjusted net income per share of approximately $0.48 to $0.49 on revenue of $472M to $474M, compared with estimates for $0.46 on revenue of $464.7M.
For its fiscal 2024, adjusted net income per share was seen at between $2.20 to $2.25 on revenue of roughly $2.05B to $2.07B. But analysts noted that full-year free cash flow margins are expected to be “roughly 20%,” implying a slight decrease from 20.6% in its current fiscal period.
“The delta was primarily attributed to higher capex, which will increase to the high-single-digit range a result of the firm investing in its cloud,” analysts at MoffettNathanson said in a note to clients.
Shares in Zscaler dipped in premarket U.S. trading on Wednesday.
Yasin Ebrahim contributed to this report.
Read the full article here
