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.
For the current quarter ending in July, Okta expects its per-share earnings to range from 60 cents to 61 cents.
The company said it expects revenue in the range of $631 million to $633 million for the fiscal second quarter.
Okta expects full-year earnings in the range of $2.35 to $2.40 per share, with revenue ranging from $2.53 billion to $2.54 billion.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
