When Zscaler Inc. (NASDAQ: ZS) released its fiscal first-quarter financial results after markets closed on Wednesday, the firm said that it had a $0.14 in earnings per share (EPS) and $142.6 million in revenue. That topped consensus estimates of $0.06 in EPS and $132.32 million in revenue, as well as $0.04 in EPS and $93.59 million in revenue posted in the same period last year.
For the most recent quarter, deferred revenue increased 51% year over year to $371.9 million, while calculated billings grew 64% to $144.7 million.
Cash provided by operations totaled $53.5 million during this quarter, compared to $21.4 million in the same period from last year. Free cash flow was $42.2 million, up from $9.4 million in the same period last year
On the books, Zscaler’s cash, cash equivalents and short-term investments totaled $1.42 billion at the end of the quarter, up from $1.37 billion at the end of the previous fiscal year.
Looking ahead to the fiscal second quarter, the company expects to see EPS in the range of $0.07 to $0.08 and total revenue of $146 million to $148 million. Consensus estimates call for $0.07 in EPS and $140.28 million in revenue for the quarter.
Management noted that customers are accelerating their digital transformation and this drove strong first-quarter results. The firm’s visibility and business momentum remain strong, and management is pleased to increase its guidance.
Zscaler stock closed Wednesday at $146.79, in a 52-week range of $35.00 to $163.80. The consensus price target is $153.79. Following the announcement, the stock was up about 11% at $163.00 in early trading indications Thursday.
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.