Zscaler Gets New CFO, Boosts Forecast & Earnings

Hey, so Zscaler, that company that does cloud security stuff, just made some pretty cool moves. They brought in Kevin Rubin as their new money guy, like the chief financial officer. This happened on Thursday, and guess what? They also upped how much money they think they'll make this year! Their shares even went up almost 5% after hours. Crazy, right?

Kevin used to be the finance chief at this mental health startup called BetterUp before coming over to Zscaler. He's taking over from Remo Canessa, who retired back in December. It makes sense that companies are spending more on cybersecurity now, with all the fancy AI stuff out there. More AI means more risk of losing important data, so keeping things secure is a big deal.

Businesses are really shelling out for digital protection, and that's good news for companies like Zscaler. They've got products that help protect data, and they even use AI for security. Because of all this, Zscaler now thinks they'll make between $2.659 billion and $2.661 billion this fiscal year. That's higher than the $2.640 billion to $2.654 billion they thought they'd make before.

Analysts who keep an eye on these things expected something around $2.649 billion, so Zscaler's new number is looking even better. And for how much they expect to earn per share? On an adjusted basis, they're now saying it'll be between $3.18 and $3.19 per share. Their old guess was $3.04 to $3.09. So, pretty nice jump!

They also shared their results for the third quarter, which ended on April 30. They made $678 million in revenue. That's more than the $666.4 million analysts thought they would. And their adjusted earnings per share for the quarter were 84 cents, beating the analysts' guess of 75 cents. Looks like Zscaler is doing pretty well!