Maker of cybersecurity software ZscalerThe stock of the company plunged as high as 18% after it issued quarter-end earnings guidance which was slightly below what analysts predicted.

As you can see, the move erased more than 10% of regular trading gains. cybersecurity stocks traded higherFears of cyberattacks in relation to Russia-Ukraine conflict and the general market staging a late-day rallyAfter an earlier plunge

The company’s success story is shown below:

• Earnings:Adjusted 13c per share vs. 11c per share expected by analysts according to Refinitiv.
• Revenue:255.6 million vs. $242 millions as analysts had expected, according to Refinitiv.

According to Zscaler, revenue increased by almost 63% during the January 31 quarter. statement. According to Jay Chaudhry, the announcement was the most rapid growth in three years. However, it suffered a loss of $100.4million in net income. This is an increase over the $67.5 million reported last year.

Zscaler’s existing customers spend more money on Zscaler products. Chaudhry shared his belief that “once we engage, almost all times we win” during a conference with analysts.

Remo Canessa spoke on behalf of the company, its finance chief Remo Canessa. Chaudhry explained that Zscaler software purchased via Amazon or Microsoft’s cloud marketplaces is part of this growth.

Zscaler expected 10 to 11 cents per share for adjusted fiscal third quarter earnings, and revenue of $270 million-272 million. Refinitiv analysts polled expected an 11-cent increase in adjusted earnings per shares and a revenue growth of 256.7 million.

For the full fiscal year, Zscaler said it sees 54 cents to 56 cents in adjusted earnings per share and revenue of $1.045 billion to $1.05 billion, which works out to almost 56% revenue growth at the middle of the range. This compares to the Refinitiv consensus figure of 52c in adjusted earnings per shared and $1.01 trillion in revenue.

For the year, notwithstanding the after-hours move, Zscaler is down 18%, compared with a 10% pullback in the S&P 500 index.

WATCH: Wedbush’s Dan Ives names Zscaler, Palo Alto and Tenable as top cybersecurity picks in 2022