U.S. Markets open in 8 hrs 55 mins

Okta: Fiscal 2Q Earnings Snapshot

SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $43 million in its fiscal second quarter.

The San Francisco-based company said it had a loss of 37 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 5 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.

The cloud identity management company posted revenue of $140.5 million in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $131.1 million.

For the current quarter ending in November, Okta expects its results to range from a loss of 13 cents per share to a loss of 12 cents per share.

The company said it expects revenue in the range of $143 million to $144 million for the fiscal third quarter.

Okta expects full-year results to range from a loss of 44 cents per share to a loss of 42 cents per share, with revenue ranging from $560 million to $563 million.

Okta shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $133.17, more than doubling in the last 12 months.


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