Zscaler beat Wall Street expectations in its first-quarter revenue report, with the cybersecurity company reporting a 62% year-over-year jump in revenue to $230.5 million and a profit of 14 cents per share.
This exceeded analyst forecasts of $208.43 million in revenue and 12 cents per share, and the company’s non-GAAP net income reached $21 million in the quarter.
For the current quarter, the company expects revenue of between $240 million and $242 million, with earnings per share of 11 cents.
For the full year 2022, the company forecasts revenue of between $1 billion and $1.01 billion and earnings per share of between $0.50 and $0.52.
Zscaler CEO and Chairman Jay Chaudhry said the company delivered “outstanding results for the first quarter.”
He also spoke about the strategies the company will pursue to better strengthen its networks against ransomware attacks. He explained that the company is working to phase out existing networks, eventually replacing them with Zero Trust architecture.