Zscaler Beats Expectations in Q1 Earnings Report
Zscaler, a cybersecurity company, reported better-than-expected earnings, revenue, and calculated billings for the fiscal first quarter. The company also issued a forecast for the second quarter that surpassed estimates. However, despite these positive results, Zscaler shares dipped by 6.1% during premarket trading. This decline can be attributed to the company’s decision to maintain its fiscal-year forecast for calculated billings at $2.52 billion to $2.56 billion, which falls slightly below analysts’ predictions of $2.54 billion. Competitor CrowdStrike Holdings also saw a decline of 1.4% ahead of its earnings report scheduled for release after the closing bell today.
Earnings Reports Expected from Key Players
Today, a number of major companies are set to release their earnings reports. Intuit, Workday, Splunk, Hewlett Packard Enterprise, NetApp, and PDD Holdings are among the key players that will provide insights into their financial performance.
Acelyrin Discloses Programming Error in Drug Trial
Biopharmaceutical company Acelyrin revealed a programming error in a drug trial for its psoriatic arthritis treatment, izokibep. The company attributed the error to incorrect programming by a vendor, which went unnoticed during testing processes. Acelyrin has taken immediate steps to address the issue. However, this announcement caused the company’s shares to drop by 8.2% in after-hours trading on Monday.
iRobot Shares Recover After European Commission Concerns
iRobot, the maker of Roomba vacuum cleaners, experienced a 17% decline on Monday due to concerns raised by the European Commission (EC) regarding its pending acquisition by Amazon.com. The EC expressed worries that the deal could hinder competition in the European market for robotic vacuum cleaners. Despite this setback, iRobot’s shares rebounded by 1.5% during premarket trading today.