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Okta: Fiscal 2Q Earnings Snapshot

September 6, 2018

SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Thursday reported a loss of $39.2 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 15 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 20 cents per share.

The cloud identity management company posted revenue of $94.6 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $84.7 million.

For the current quarter ending in November, Okta expects its results to range from a loss of 12 cents per share to a loss of 11 cents per share.

The company said it expects revenue in the range of $96 million to $97 million for the fiscal third quarter.

Okta expects full-year results to range from a loss of 48 cents per share to a loss of 46 cents per share, with revenue ranging from $372 million to $375 million.

Okta shares have more than doubled since the beginning of the year. In the final minutes of trading on Thursday, shares hit $60.05, more than doubling 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

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