Zscaler pops as fourth-quarter results, full-year guidance top expectations
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IT security company Zscaler (NASDAQ:ZS) rose in extended-hours trading after it posted fourth-quarter results that topped expectations and issued strong guidance for the new fiscal year.
Excluding one-time items, Zscaler said it earned $0.25 per share on $318.06M in revenue, compared to estimates of $0.21 per share on $305.54M in revenue. Zscaler (ZS) also noted that billings rose 57% year-over-year to $520.4M.
In a statement, Jay Chaudhry, Chairman and CEO of Zscaler (ZS), said the results were aided by "operational efficiency across the company." 
"Despite the uncertain macroeconomic landscape which continues to evolve, we continue to see favorable demand for our Zero Trust Exchange platform because it makes businesses more secure, simplifies IT, and reduces cost," Chaudhry said.
San Jose, California-based Zscaler (ZS) shares rose more than 7.5% to $166 in extended trading.
Looking to the next fiscal year, Zscaler (ZS) said it expects revenue to be between $1.49B and $1.5B, compared to estimates of $1.47B. Billings are expected to be between $1.92B and $1.94B.
For the first-quarter, Zscaler (ZS) expects sales to be between $339M and $341M, topping estimates of $326.16M. Earnings, excluding one-time items, are forecast to be $0.26 per share, topping consensus estimates of $0.22 per share. 
Zscaler (ZS) will hold a conference call at 4:30 p.m. EST to discuss the results. 
In July, investment firm BTIG downgraded Zscaler (ZS), noting that independent field checks "downticked from prior quarters and lead us to believe sales cycles will elongate over the next 6-12 months."