Okta: Fiscal Q1 Earnings Snapshot
By Ap News
Published - May 29, 2024, 04:12 PM ET
Last Updated - May 29, 2024, 04:12 PM EDT
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Wednesday reported a loss of $40 million in its fiscal first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 24 cents. Earnings, adjusted for one-time gains and costs, came to 65 cents per share.
The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The cloud identity management company posted revenue of $617 million in the period, which also beat Street forecasts. Thirteen analysts surveyed by Zacks expected $604.3 million.
