Why Zscaler Stock Plunged 30% in September
Shares of Zscaler (NASDAQ: ZS) plummeted 31.2% last month, according to data provided by S&P Global Market Intelligence, after the cybersecurity specialist issued disappointing sales and profit guidance for the year ahead.
Zscaler's fourth-quarter revenue surged 53% year over year to $86.1 million. The cloud-security company's non-GAAP (adjusted) earning per share, meanwhile, came in at $0.07, up from a loss of $0.01 in the year-ago quarter. Wall Street had expected revenue and non-GAAP EPS of only $82.8 million and $0.01, respectively.
"Our strong fiscal 2019 results demonstrate our ability to drive growth and profitability while investing in our business, as we continue to see enterprises transforming their network and security to realize the benefits of the cloud," CEO Jay Chaudhry said in a press release.
Source Fool.com
