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Okta: Fiscal 1Q Earnings Snapshot

SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Thursday reported a loss of $57.7 million in its fiscal first quarter.

The San Francisco-based company said it had a loss of 47 cents per share. Losses, adjusted for stock option expense and amortization costs, were 7 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The cloud identity management company posted revenue of $182.9 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $172.1 million.

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For the current quarter ending in August, 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 $185 million to $187 million for the fiscal second quarter.

Okta expects full-year results to range from a loss of 23 cents per share to a loss of 18 cents per share, with revenue ranging from $770 million to $780 million.

Okta shares have risen 59% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $183.92, an increase of 69% 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