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Zscaler shares plunge 11% despite Q1 & guidance beat

December 1, 2022 4:31 PM EST

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Zscaler (NASDAQ: ZS) shares plummeted more than 11% after-hours despite the company’s reported strong Q1 results and better-than-expected guidance.

Q1 EPS came in at $0.29, better than the consensus estimate of $0.26. Revenue grew 54% year-over-year to $355.5 million, beating the consensus estimate of $340.68 million.

"We delivered strong top line growth with improved operating profitability and increased free cash flow, once again performing at the Rule-of-80. We are seeing customers committing to our broader platform, driven by vendor consolidation and an elevated threat environment," said Jay Chaudhry, Chairman and CEO of Zscaler.

The company expects Q2/23 EPS in the range of $0.29-$0.30, compared to the consensus of $0.26, and revenue in the range of $364-366 million, compared to the consensus of $359 million.

For fiscal 2023, the company expects EPS to be in the range of $1.23-$1.25, compared to the consensus of $1.18, and revenue in the range of $1.525-1.53 billion, compared to the consensus of $1.51 billion.

By Davit Kirakosyan



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