RTTNews | Dec 3, 2020 10:01AM EST

10:01 Thursday, December 3, 2020 (RTTNews.com) - Zscaler, Inc. (ZS) shares are rising more than 22 percent on Thursday morning, on revenue growth of 52 percent.

Currently, the shares are at $179.48, up 22.24 percent from the previous close of $146.79 on 3,519,520 shares. For the 52-week period, the shares have traded in a range of $35.00 to $178.85 on average volume of 2,157,825.

The cloud security provider reported a wider net loss of $55 million or $0.41 per share for the quarter, than net loss of $17.1 million or $0.13 per share in the prior year. On an adjusted basis, the company reported profit of $0.14. On average, 23 wall street analysts expected the company to earn $0.07 per share.

Revenue for the quarter increased to $142.6 million from $93.59 million last year. Looking ahead to the second quarter, the company expects adjusted earnings in a range of $0.07 to $0.08 on revenue between $146 and $148 million. For the full year 2021, the company projects adjusted earnings of $0.37 to $0.38 and revenue in a range of $608 to $612 million.

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