Nov 27 (Reuters) - Zscaler (ZS.O) forecast quarterly revenue above analysts' estimates on Monday, but indications of strong cybersecurity spending were overshadowed by rising operating expenses.
Shares of Zscaler fell more than 6% in after-hours trading as the cloud security company's operating expenses for the first quarter jumped by about 24% to $431.4 million.
For the second quarter, Zscaler expects revenue between $505 million and $507 million, above analysts' average estimate of $496.7 million, according to LSEG data.
Zscaler also raised its annual revenue and profit forecasts.
The company's annual revenue is now estimated to be between $2.09 billion and $2.10 billion, compared to its previous forecast of $2.05 billion to $2.07 billion.
Persons:
Jay Chaudhary, Remo Canessa, Zscaler, Arsheeya, Maju Samuel
Organizations:
Global, Gartner, Thomson
Locations:
California, Bengaluru