RTTNews | May 26, 2021 10:04AM EDT

10:04 Wednesday, May 26, 2021 (RTTNews.com) - Zscaler, Inc. (ZS) shares are rising on Wednesday morning trade as the company expects profit for the fourth quarter, and the projected revenue comes in above estimates. The company had reported loss for its third quarter.

Currently, shares are at $197.07, up 14.08 percent from the previous close of $172.74 on a volume of 2,506,403. For the 52-week period, the shares have traded in a range of $69.83-$230.88 on average volume of 1,953,790.

The cloud-based security solutions provider reported third-quarter net loss of $58.46 million or $0.43 per share compared to net loss of $19.34 million or $0.15 per share in the prior year.

Revenue for the quarter increased to $176.41 million from $110.52 million in the prior year.

Looking ahead to the fourth quarter, the company projects adjusted net income per share of around $0.08 to $0.09 on revenue of between $185 to $187 million. On average, 24 analysts polled by Thomson Reuters expect the company to earn $0.09 per share. Analysts estimates usually exclude special items.

Analysts' projection for fourth-quarter revenue is $174.43 million.

Read the original article on RTTNews ( https://www.rttnews.com/3197713/stock-alert-zscaler-gains-14-as-q4-revenue-projections-above-estimates.aspx)

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