Okta: Fiscal 3Q Earnings Snapshot
Posted Dec 2, 2020 2:14 pm.
Last Updated Dec 2, 2020 2:30 pm.
This article is more than 5 years old.
SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $72.8 million in its fiscal third quarter.
The San Francisco-based company said it had a loss of 56 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 4 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The cloud identity management company posted revenue of $217.4 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $202.7 million.
For the current quarter ending in January, Okta expects its results to range from a loss of 2 cents per share to a loss of 1 cent per share.
The company said it expects revenue in the range of $221 million to $222 million for the fiscal fourth quarter.
Okta expects full-year earnings in the range of 4 cents to 5 cents per share, with revenue ranging from $822 million to $823 million.
Okta shares have increased 99% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $229.24, an increase of 88% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OKTA at https://www.zacks.com/ap/OKTA
The Associated Press
