Okta Beats Revenue, Profit Forecasts. Shares Spike After Earnings Beat.

Benzinga

Okta shares surged over 18% in after-hours trading following a robust third-quarter earnings report that exceeded expectations. The identity management company exceeded analyst expectations for earnings per share and revenue in its latest quarter. CEO Todd McKinnon highlighted the impact of strategic investments in partners, public sector growth, and large customers, all contributing to top-line gains. For the fourth quarter, Okta projects revenue that surpasses consensus estimates. Okta shares are down 10% year-to-date, underperforming the Nasdaq's 30% rise.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Okta shares surged over 18% in after-hours trading following a robust third quarter

00:07earnings report that exceeded expectations. The identity management company exceeded

00:12analysts' expectations for both earnings per share and revenue in its latest quarter.

00:16CEO Todd McKinnon highlighted its impact of strategic investments in partners,

00:21public sector growth, and large customers all contributing to top-line gains.

00:25For the fourth quarter, Okta projects revenue that surpasses consensus estimates.

00:30Okta shares are down 10% year-to-date, underperforming the Nasdaq's 30% rise.

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