Zscaler committed to 'long-term growth' after a solid Q1

Zscaler Inc (NASDAQ: ZS) is down more than 6.0% in extended hours even though it reported better-than-expected results for its first financial quarter.

Zscaler issues strong future guidance

The price action is interesting considering the cybersecurity company issued solid guidance for the future as well.

Zscaler now forecasts its adjusted earnings to fall between $2.45 and $2.48 on a per-share basis in fiscal 2024 on up to $2.10 billion in revenue. Analysts in comparison were at $2.24 per share on $2.06 billion in revenue. Jay Chaudhry – its Chief Executive said in a press release today:

Zscaler stock is still up more than 100% versus its year-to-date low.

Notable figures in Zscaler's Q1 earnings release

• Lost $33.5 million versus the year-ago $68.2 million
• Per-share loss also narrowed from 48 cents to 23 cents
• Adjusted EPS printed at 67 cents as per the press release
• Revenue jumped 40% year-on-year to $496.7 million
• Consensus was 49 cents a share and $473.4 million revenue

Other notable figures in the earnings report include a 34% growth in calculated billings while deferred revenue was up 39% versus the same quarter last year. CEO Chaudhry added: