By 
Zscaler Inc. shares dropped in the extended session Thursday after the cybersecurity company forecast an earnings range that dipped below Wall Street expectations following a rally in the regular session.
Zscaler
ZS,
+10.02%
shares dropped 18% after hours, following a 10% rally in the regular session to close at $263.38.
The company said it expects adjusted earnings of 10 cents to 11 cents a share on revenue of $270 million to $272 million for the fiscal third quarter, and 54 cents to 56 cents a share on revenue of about $1.05 billion for the year and billings of about $1.37 billion. Calculated billings is revenue plus deferred revenue acquired over the quarter.
Analysts had forecast earnings of 11 cents on revenue of $256.7 million for the fiscal first quarter, and 52 cents a share on revenue of $1.01 billion for the year and billings of $1.3 billion for the year.
The company reported a fiscal second-quarter loss of $100.4 million, or 71 cents a share, compared with a loss of $67.5 million, or 50 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 13 cents a share, compared with 10 cents a share in the year-ago period.
Revenue rose to $255.6 million from $157 million in the year-ago quarter. Calculated billings rose to $367.7 million from $232 million in the year-ago period.
Analysts surveyed by FactSet had forecast earnings of 11 cents a share on revenue of $241.1 million and billings of $316.9 million.
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