Feb 29,2024

Shares of Zscaler, Inc. (ZS) were down as low as 12% in after hours trading despite its beat and raise.

Outlook for For Q3 fiscal 2024:

Revenue of $534 million to $536 million vs consensus of $ 531.3 million

Non-GAAP net income per share of approximately $0.64 to $0.65 vs average estimate of $ 0.58

Outlook For the full year fiscal 2024:

Revenue of approximately $2.118 billion to $2.122 billion vs the consensus of $ 2.1 billion
Calculated billings of $2.55 billion to $2.57 billion

Non-GAAP net income per share of $2.73 to $2.77 vs estimate of $2.49

the disappointment could be due to a sequential deceleration ,in Q2 Deferred revenue growth was 35% year-over-year compared to 39% in Q1,calculated billings growth of 27% in Q2 vs 34% in Q1