Security Firm Okta Narrows Quarterly Loss, Revenue Tops Views – Investor's Business Daily

This post was originally published on this site

Okta (OKTA) late Wednesday reported a narrower-than-expected, fiscal third-quarter adjusted loss with revenue rising 61% to $68.2 million, also beating expectations.

Okta’s January quarter outlook also topped views.

X Okta said it lost 19 cents a share in the quarter ended Oct. 31 vs. an 89-cent loss per share a year earlier. Analysts expected Okta to report a loss of 24 cents a share on sales of $62.8 million.

In the January quarter, Okta said it expects a loss of 17 cents to 18 cents a share and revenue of $70.5 million at its mid-point of guidance vs. consensus estimates of a 20-cent loss and sales of $68 million.

Shares in the maker of computer security software rose 4.6% to 29.77 in after-hours trading in the stock market today. Okta had gained 67% this year as of Wednesday’s market close.

Okta raised $187 million in its April initial public offering, pricing shares at 17. San Francisco-based Okta was founded in 2009 and provides identity management services for business.

This post was originally published on *this site*