Zscaler shares fall 19% after earnings beat offset by free cash flow guidance cut
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Summary
Zscaler reported better-than-expected earnings and revenue for its third quarter and raised its full-year outlook, but shares dropped over 19% in after-hours trading after the company slashed its free cash flow margin guidance due to higher planned capital expenditures.
Key quotes
· 3 pulledShares of Zscaler Inc. plunged more than 19% in late trading today after the cloud security company reported beats on earnings and revenue in its third quarter.
It also raised its full-year revenue and earnings outlook but slashed its free cash flow margin guidance on higher planned capital expenditure.
For the quarter ended April 30, Zscaler reported a
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