With the introduction of new products and the integration of AI technology into current offerings by companies such as Zscaler, the role of AI in cybersecurity is changing.
Palo Alto Networks, a rival to Zscaler, is preparing to provide up to six months of free services to users who move to its cybersecurity platform.
Total operational expenses during the second quarter of the previous year increased by 24% to $453.3 million from $365.2 million.
The company’s R&D costs increased by 42% to $122.2 million from $85.8 million in the previous year.
Zscaler glided past market projections for second-quarter results and forecasted third-quarter revenue and profit beyond expectations, despite businesses investing more in cybersecurity networking solutions to counter sophisticated online attacks.
Zscaler reported 76 cents in second-quarter profit per share, which was higher than LSEG’s projection of 58 cents, when items were excluded.
Zscaler revised its expectation from $2.09 billion to $2.10 billion to $2.118 billion to $2.122 billion in annual sales.
It anticipates adjusted profit per share for the third quarter to be between 64 and 65 cents, which is higher than the average LSEG forecast of 58 cents.
