Okta: Fiscal 3Q Earnings Snapshot

SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $72.8 million in its fiscal third quarter.

The San Francisco-based company said it had a loss of 56 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 4 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.

The cloud identity management company posted revenue of $217.4 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $202.7 million.

For the current quarter ending in January, Okta expects its results to range from a loss of 2 cents per share to a loss of 1 cent per share.

The company said it expects revenue in the range of $221 million to $222 million for the fiscal fourth quarter.

Okta expects full-year earnings in the range of 4 cents to 5 cents per share, with revenue ranging from $822 million to $823 million.

Okta shares have increased 99% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $229.24, an increase of 88% in the last 12 months.

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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