Cloud security firm Zscaler soared as much as 37 percent Thursday, a day after reporting that its billings surged in the company’s third quarter ended April 30.
Shares traded as high as $42.16 on Thursday, up from Wednesday’s close of $30.65, before falling to roughly $38.00 by mid-morning.
The company reported revenue growth of 49 percent year-over-year, bolstered by a 73 percent spike in calculated billings. Here’s how the company did compared to Wall Street estimates:
- Loss per share: 2 cents vs. 8 cents expected, according to Thomson Reuters consensus estimates
- Revenue: $49.2 million vs. $46 million expected, according to Thomson Reuters consensus estimates
The company expects revenue of up to $51 million in the fourth quarter and $185 million for fiscal year 2018.
On Thursday, the stock was up more than 130 percent from its IPO price.