Chenghe Acquisition Co
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Based in Singapore
Company profile

Chenghe Acquisition Co. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It has not selected any specific business combination target and has not engaged in any substantive discussions, directly or indirectly, with any business combination target. The Company intends to focus on fintech or technology-enabled financial service companies, including artificial intelligence, big data, cloud and blockchain-related initiatives, in Asian markets. The Company is neither engaged in any business operations nor generates any revenues.

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Zscaler results, outlook top Street view, but shares dip amid tough cloud-software environment

8:16 pm ET June 1, 2023 (MarketWatch)

By Wallace Witkowski

Zscaler Inc. shares declined in the extended session Thursday after the cybersecurity company's results and forecast topped Wall Street expectations amid a tough cloud-software environment.

Zscaler shares (ZS) slipped about 1% after hours, following a 0.3% decline in the regular session to close at $135.09.

The company forecast adjusted earnings of about 49 cents a share on revenue of $429 million to $431 million for the fiscal fourth quarter. Analysts surveyed by FactSet had estimated 47 cents a share on revenue of $387.3 million and billings of $657.5 million for the quarter.

The company forecast full-year earnings of $1.63 to $1.64 a share on revenue of about $1.59 billion, and billings of $1.97 billion to $1.98 billion. Last quarter, the company said it expected full-year earnings of $1.52 to $1.53 on about $1.56 billion revenue, and billings of $1.94 billion to $1.95 billion.

Analysts had estimated $1.56 a share on revenue of $1.58 billion, and billings of $1.96 billion for the year.

The company reported a fiscal third-quarter loss of $46 million, or 32 cents a share, compared with a loss of $101.4 million, or 72 cents a share, in the year-ago period. Adjusted net income, which excludes stock-based compensation and other items, was 48 cents a share, compared with 17 cents a share in the year-ago period.

Revenue rose to $418.8 million from $286.8 million in the year-ago quarter, the company said, as billings grew 40% to $482.3 million.

Analysts had forecast earnings of 42 cents a share on revenue of $411.6 million, and billings of $469.2 million.

As of Thursday's close, Zscaler's stock is up 20.7% year to date, compared with a 9.9% gain by the S&P 500 index , a 25.2% increase by the tech-heavy Nasdaq Composite Index and an 11.4% gain by the ETFMG Prime Cyber Security ETF (HACK).

-Wallace Witkowski

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

June 01, 2023 20:16 ET (00:16 GMT)

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