Summary by Futu AI
Zscaler, a leader in cloud security, reported a significant turnaround in net income for the three months ended April 30, 2024, posting $19.1 million compared to a net loss of $46 million in the same period the previous year. This improvement is reflected in the diluted net income per share, which increased from a loss of $0.32 to a gain of $0.12. The company's revenue saw a substantial increase of 32% year-over-year, reaching $553.2 million for the quarter. The growth in revenue was primarily attributed to an increase in users and additional subscriptions from existing customers. Despite the increase in cost of revenue by 23%, Zscaler's gross margin improved from 77% to 79%, indicating more efficient operations.
In terms of business development, Zscaler has expanded its customer...Show More