Zscaler’s stock surges 5% after beat-and-raise earnings

Zscaler Inc.’s shares rallied Tuesday after the cybersecurity company’s quarter and outlook topped Wall Street expectations.

The company forecast adjusted earnings of about 48 to 49 cents a share on revenue of $472 million to $474 million for the fiscal first quarter. Analysts surveyed by FactSet had estimated 45 cents a share on revenue of $464.8 million and billings of $434.1 million for the quarter. The company reported a fiscal fourth-quarter loss of $30.7 million, or 21 cents a share, compared with a loss of $97.7 million, or 69 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 64 cents a share, compared with 25 cents a share in the year-ago period.

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