SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Thursday reported a loss of $60.1 million in its fiscal second quarter.
The San Francisco-based company said it had a loss of 48 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 7 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The cloud identity management company posted revenue of $200.4 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $186.4 million.
For the current quarter ending in November, 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 $202 million to $203 million for the fiscal third quarter.
Okta expects full-year results to range from a loss of 3 cents per share to a loss of 1 cent per share, with revenue ranging from $800 million to $803 million.
Okta shares have increased 91% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $219.91, an increase of 65% in the last 12 months.