5 Notable Earnings Reports to Watch

4. Zscaler, Inc. (NASDAQ: ZS)

Number of Hedge Fund Holders: 38

Shares of Zscaler, Inc. (NASDAQ: ZS) slipped over 3 percent on Friday, 10 September 2021, despite announcing upbeat quarterly results and outlook. The company reported adjusted earnings of 14 cents per share for its fiscal fourth quarter ended July 31, up from 8 cents per share in the comparable period of 2020.

In addition, Zscaler, Inc. (NASDAQ: ZS) posted revenue of $197.1 million, up 57 percent on a year-over-year basis. The results easily exceeded the consensus forecast of 9 cents per share for earnings and $186.8 for revenue.

Speaking on the results, CEO Jay Chaudhry said:

“We delivered outstanding results for the fourth quarter, with a record number of large deals across diverse sectors driving 57% revenue growth and 70% billings growth year over year, finishing the fiscal year with strong business momentum. Enterprises of all sizes are adopting Zscaler’s Zero Trust Exchange to accelerate their secure digital transformation journey as they turn away from legacy castle-and-moat security. We continue to invest and innovate across all our product pillars and help our customers adopt a Zero Trust architecture designed to secure the cloud and mobile world.”

Zscaler, Inc. (NASDAQ: ZS) also issued the financial outlook for its fiscal year 2022. It expects adjusted earnings in the range of 52 cents – 56 cents per share, in line with the consensus forecast of 54 cents per share. Revenue for the full year is expected to come between $940 million and $950 million, better than analysts’ average estimate of $899.1 million.