Okta Inc Reports Strong First-Quarter Results, Shares Decline in After-Hours Trading
Okta Inc, a software development company specializing in identity management, has released its first-quarter financial results. The company’s earnings per share (EPS) came in at $0.86, representing a significant improvement from the previous year’s loss.
Key highlights from the company’s financial performance include:
- Revenue increased by 12% year-over-year, driven by strong subscription sales
- EPS of $0.86, exceeding market expectations
Market analysts had predicted a strong quarter for Okta Inc, with positive sentiment surrounding the company’s performance. However, the stock’s price movement has been volatile, reflecting the uncertainty surrounding its future prospects.
Notable statistics from the company’s financial results include:
- Revenue: $444.6 million (12% year-over-year increase)
- EPS: $0.86 (compared to a loss in the previous year)
- Subscription sales: drove revenue growth in the quarter