Why Okta Stock Is Rising After Hours
Portfolio Pulse from Ryan Gustafson
Okta, Inc. (NASDAQ:OKTA) reported Q2 earnings of 31 cents per share, beating the analyst consensus estimate of 22 cents, and a 410% increase over losses from the same period last year. The company also reported quarterly sales of $556.00 million, beating the analyst consensus estimate of $534.54 million. Okta raised its full-year 2024 total revenue and earnings per share estimates. Shares of OKTA were up 11.0% after-hours.
August 30, 2023 | 8:27 pm
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Okta reported strong Q2 earnings and sales, and raised its full-year 2024 guidance, leading to a rise in its stock price.
Okta's better-than-expected Q2 earnings and sales, along with raised full-year 2024 guidance, indicate strong performance and positive future outlook, which are likely to boost investor confidence and drive the stock price up in the short term.
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