SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Tuesday reported fiscal first-quarter profit of $62 million.
The San Francisco-based company said it had profit of 35 cents per share. Earnings, adjusted for one-time gains and costs, were 86 cents per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The cloud identity management company posted revenue of $688 million in the period, which also beat Street forecasts. Thirteen analysts surveyed by Zacks expected $679.7 million.
For the current quarter ending in July, Okta expects its per-share earnings to range from 83 cents to 84 cents.
The company said it expects revenue in the range of $710 million to $712 million for the fiscal second quarter.
Okta expects full-year earnings in the range of $3.23 to $3.28 per share, with revenue ranging from $2.85 billion to $2.86 billion.
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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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