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

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

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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