Apple’s (AAPL) iPhone and Watch product refresh help lift Nasdaq (QQQ) in the last week. QQQ ETF
gained 2.57%. Quarterly results from DocuSign (DOCU) and ZScaler (ZS) led to spectacular gains.
Although the 1-year loss on both firms is high, the results rewarded traders.
DocuSign, which sells electronic contract signing solutions, posted revenue growing by 21.6% Y/Y to
$622.18 million. It earned 44 cents a share (non-GAAP). It held cash of $1.1296 billion, compared to its
$11.59 billion market capitalization. Looking ahead, the company expects revenue of up to $628 million,
above the $626 million consensus estimate. The slightly bigger forecast fueled a 10% rise in DOCU stock
last Friday, September 9, 2022.
ZScaler, a supplier of zero trust exchange for secure connections, rallied 21.88% after reporting a 61.4%
Y/Y revenue rise. Calculated billings grew by 57% to $520.4 million. Its deferred revenue grew by 62%
Y/Y to $1.021 billion. ZScaler expects a Q1/2023 total revenue of up to $341 million.
Roblox (RBLX) joined the stock rally on Sept. 9, adding 8.77%. The gaming firm will roll out ads on its
platform. Markets have it wrong: ads will deter gamers from growing activity on the site. Furthermore,
expect weak advertising revenue on launch.
