SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Wednesday reported a loss of $111 million in its fiscal second quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 68 cents. Earnings, adjusted for one-time gains and costs, were 31 cents per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The cloud identity management company posted revenue of $556 million in the period, which also topped Street forecasts. Fourteen analysts surveyed by Zacks expected $534.1 million.
For the current quarter ending in October, Okta expects its per-share earnings to range from 29 cents to 30 cents.
The company said it expects revenue in the range of $558 million to $560 million for the fiscal third quarter.
Okta expects full-year earnings in the range of $1.17 to $1.20 per share, with revenue ranging from $2.21 billion to $2.22 billion.
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