Zscaler Records Strong Q1 Revenue And Profits

Share post:

Zscaler beat Wall Street expectations in its first-quarter revenue report, with the cybersecurity company reporting a 62% year-over-year jump in revenue to $230.5 million and a profit of 14 cents per share.

This exceeded analyst forecasts of $208.43 million in revenue and 12 cents per share, and the company’s non-GAAP net income reached $21 million in the quarter.

For the current quarter, the company expects revenue of between $240 million and $242 million, with earnings per share of 11 cents.

For the full year 2022, the company forecasts revenue of between $1 billion and $1.01 billion and earnings per share of between $0.50 and $0.52.

Zscaler CEO and Chairman Jay Chaudhry said the company delivered “outstanding results for the first quarter.”

He also spoke about the strategies the company will pursue to better strengthen its networks against ransomware attacks. He explained that the company is working to phase out existing networks, eventually replacing them with Zero Trust architecture.

For more information, read the original story in ZDNet.


Related articles

Costs from Global CrowdStrike Outage Could Exceed $1 Billion

The global tech outage caused by a faulty CrowdStrike update on Friday could result in damages exceeding $1...

Kaspersky to shut down its US business due to sanctions

Russian cybersecurity firm Kaspersky Lab announced it will cease its U.S. operations starting July 20, following sanctions from...

Intuit lays off 1,800 people amid a shift to AI

Intuit, the company behind QuickBooks, Credit Karma, and TurboTax, is laying off 1,800 employees, which is about 10%...

VMWare revenue drops by $600 million but Broadcom assures investors growth plan is on track

In its first full quarter under Broadcom's ownership, VMware's revenue fell by $600 million, dropping to $2.7 billion....

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways