Zscaler Inc. (NASDAQ:ZS) after Tuesday’s close announced that its fourth quarter 2023 revenue rose 43% year over year to $455.0 million while generating adjusted earnings per share (EPS) of $0.64, up from $0.25 during the same period last year.
The consensus analyst forecast for the cloud security company was for adjusted EPS of $0.49 on $431 million in revenue.
Zscaler shares jumped as much as 6% in Tuesday’s after-hours session.
"We concluded our fiscal year with strong top line growth and record operating profits," Zscaler CEO Jay Chaudhry said in a statement.
"In less than two years, we doubled our annual recurring revenue, surpassing the $2 billion milestone."
Calculated billings for the period, meanwhile, grew 38% year over year to $719.3 million.
As well, the company said it ended the quarter with cash, cash equivalents and short-term investments of $2.1 billion as of July 31, 2023, an increase of $368.9 million from a year ago.
Looking ahead, Zscaler sees 1Q 2024 adjusted EPS of about $0.48 to $0.49 on revenue of $472 million to $474 million, exceeding Wall Street estimates of $0.46 and $464.7 million, respectively.
Shares of Zscaler have gained 48% year to date as of Tuesday’s close.
Contact Sean at sean@proactiveinvestors.com