Okta: Fiscal Q2 Earnings Snapshot

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Wednesday reported fiscal second-quarter net income of $29 million.

The San Francisco-based company said it had profit of 15 cents per share. Earnings, adjusted for one-time gains and costs, came to 72 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The cloud identity management company posted revenue of $646 million in the period, also beating Street forecasts. Thirteen analysts surveyed by Zacks expected $632.2 million.

For the current quarter ending in October, Okta expects its per-share earnings to range from 57 cents to 58 cents.

The company said it expects revenue in the range of $648 million to $650 million for the fiscal third quarter.

Okta expects full-year earnings in the range of $2.58 to $2.63 per share, with revenue ranging from $2.56 billion to $2.57 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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