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May 28, 2020, 4:54 p.m. EDT

Okta shares drop 4% despite jump in revenue

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By Jon Swartz

Okta Inc. /zigman2/quotes/210420951/composite OKTA -1.89% shares were down 4.9% in after-hours trading Thursday after the ID-management platform provider reported fiscal first-quarter results. Okta reported a loss of $57.7 million, or 47 cents a share, compared with a loss of $52 million, or 46 cents a share, in the year-ago quarter. Adjusted earnings were a loss of 7 cents a share, compared with a loss of 19 cents in the same quarter a year ago. Revenue improved 46% to $182.9 million from $125.2 million a year ago. "We continue to see strong acceleration in our business," Okta Chief Operating Officer Frederic Kerrest told MarketWatch in a phone interview after the results were announced. Analysts surveyed by FactSet had expected a loss of 18 cents a share on sales of $171.8 million. Okta shares are up 59% this year. The broader S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.05% is down 6% in 2020.

US : U.S.: Nasdaq
$ 218.73
-4.22 -1.89%
Volume: 1.17M
July 10, 2020 4:00p
P/E Ratio
Dividend Yield
Market Cap
$27.78 billion
Rev. per Employee
+32.99 +1.05%
Volume: 2.40B
July 10, 2020 4:20p

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