Zscaler (ZS) reports 46% growth in Q4 revenue on growing digital transformation

Zscaler (NASDAQ: ZS) topped fourth quarter 2020 earnings and revenue estimates with a 46% growth in revenue. The cloud security firm’s adjusted earnings decreased to $0.05 per share from $0.07 per share in the prior year, but topped the consensus’ targets. ZS stock declined by 2% in the extended trading hours.

“Businesses are digitally transforming at a pace never seen before, and this is fueling adoption of the Zscaler Zero Trust Exchange platform and our strong fourth quarter and fiscal year results,” said CEO Jay Chaudhry.

On a GAAP basis, the San Jose, California-based firm posted a net loss of $0.38 per share, compared to a loss of $0.04 per share in the fourth quarter of fiscal 2019.

Also read: DocuSign (DOCU) reports a 45% revenue growth in Q2 2021

For the first quarter of fiscal 2021, Zscaler expects non-GAAP earnings per share to be approximately $0.05 to $0.06 and revenue in the range of $131 million to $133 million.

For the fiscal year 2021, the company estimates non-GAAP earnings to be in the range of $0.28 to $0.30 per share and revenue to come in the range of $580 million to $590 million.

Looking forward to read what management and analysts discuss on quarterly results? Stay tuned here for Zscaler Q4 2020 earnings call transcript