Zscaler Reports Robust Third-Quarter Growth with AI-Driven Advances

Published 1 days agoZS

Zscaler Reports Robust Third-Quarter Growth with AI-Driven Advances

Zscaler, Inc. delivered impressive third-quarter results for the fiscal year 2024, showcasing substantial growth and notable strategic initiatives. The company reported a 32% year-over-year increase in revenue, totaling $553.2 million. Additionally, adjusted earnings per share of $0.88 surpassed analyst expectations of $0.65. Zscaler's calculated billings also saw a rise of 30%, reaching $628.0 million in this quarter. These figures underline Zscaler's strong financial performance amidst a growing demand for cybersecurity solutions.

In terms of strategic movements, Zscaler made noteworthy acquisitions to bolster its AI capabilities and reinforce its market position. The acquisition of Avalor Technologies in March 2024 aimed to integrate Avalor's Data Fabric for Security with Zscaler's existing data infrastructure. Following this, Zscaler acquired Airgap Networks in April 2024, enhancing its Zero Trust security approach by combining Airgap's agentless segmentation technology with its own offerings. Furthermore, Zscaler announced AI innovations like the ZDX Copilot for IT operations and security insights, alongside launching GenAI App Security to protect AI application usage from data leaks.

Recognized for its leadership in the cybersecurity domain, Zscaler was named a Leader in both the Forrester Wave and Gartner Magic Quadrant reports for 2024, highlighting its continued excellence in Security Service Edge solutions. Looking ahead, Zscaler has projected Q4 revenue guidance of $565 million to $567 million and expects full fiscal 2024 revenue between $2.140 billion and $2.142 billion. These strategic and technological advancements, along with market recognition, reflect Zscaler's ongoing commitment to innovation within the cybersecurity landscape.

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