Okta Inc beat Wall Street estimates for second-quarter earnings and revenue on Tuesday and issued an upbeat full-year forecast.
Shares of the identity management company were up 4% in aftermarket trading.
The posted earnings of $0.91 per share, above analysts’ expectations of $0.84.
Revenue rose to $728 million, topping estimates of $711.2 million.
Okta expects earnings of $0.74 to $0.75 per share, in line with consensus, for the third quarter. For the same period, it expects revenue between $728 million and $730 million, above estimates of $723 million.
The company forecast full-year earnings of $3.33 to $3.38 per share and revenue of $2.88 billion to $2.89 billion, compared with analyst estimates of $2.86 billion.
“Okta’s unified identity platform is winning customers ranging from the world’s largest global organizations to massive government agencies,” said Todd McKinnon CEO.
“Our solid Q2 results are highlighted by continued strength in new product adoption, the public sector, Auth0, and cash flow. In the age of AI”
Source :
https://www.investing.com/news/earnings/okta-shares-jump-on-q2-and-revenue-outlook-beat-4211544
