When Zscaler Inc. (NASDAQ: ZS) released its fiscal second-quarter financial results after the markets closed on Tuesday, the firm said that it had a $0.09 in earnings per share (EPS) and $101.3 million in revenue. That compared with consensus estimates of $0.03 in EPS and $98.97 million in revenue, as well as $0.09 in EPS and $74.3 million in revenue posted in the same period of last year.

For the most recent quarter, deferred revenue increased 36% year over year to $280.0 million, while calculated billings grew 18% to $135.4 million.

Looking ahead to the fiscal third quarter, the company expects to see EPS in the range of $0.01 to $0.03 and total revenue of $105 million to $107 million. Consensus estimates call for $0.04 in EPS and $104.6 million in revenue for the quarter.

As for the 2020 fiscal full year, the firm expects to see earnings of $0.14 to $0.16 per share and total revenue between $414 million and $417 million. The consensus estimates are $0.15 in EPS and $410.38 million in revenue.

Jay Chaudhry, board chair and chief executive of Zscaler, commented:

In the quarter, we delivered strong earnings results while making tremendous progress on our go-to-market initiatives. Momentum is continuing to build across our business as our customers embrace and accelerate their cloud transformation.

Zscaler stock traded down more than 15% Friday to $55.03, in a 52-week range of $40.05 to $89.54. The consensus price target is $62.63.

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