Wed, May 31, 2023 1:09 PM
STATS Perform dba Automated Insights
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Wednesday reported a loss of $119 million in its fiscal first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 74 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The cloud identity management company posted revenue of $518 million in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $510.6 million.
For the current quarter ending in July, Okta expects its per-share earnings to range from 21 cents to 22 cents.
The company said it expects revenue in the range of $533 million to $535 million for the fiscal second quarter.
Okta expects full-year earnings in the range of 88 cents to 93 cents per share, with revenue ranging from $2.17 billion to $2.19 billion.