Okta shares rally on company's narrower quarterly loss, revenue beat
Shares of Okta Inc. jumped more than 16% in the extended session Thursday after the company reported a narrower-than-expected adjusted quarterly loss and revenue topped views. Okta said it lost $39.2 million, or 37 cents a share, in the fiscal second quarter, compared with a loss of $26 million, or 28 cents a share, in the second quarter of fiscal 2018. Adjusted for one-time items, Okta lost $16.4 million, or 15 cents a share, compared with $14.1 million, or 15 cents a share, a year ago. Revenue rose 57% to $94.6 million. Analysts polled by FactSet had expected an adjusted loss of 19 cents a share on sales of $85 million. Okta said it expects revenue between $372 million and $375 million for fiscal 2019, and an adjusted per-share loss between 48 cents and 46 cents for the year. Okta shares ended the regular session Thursday up 0.5%.
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