Okta Boosts FY24 Outlook As Q3 Results Top Estimates

RTTNews | 615 dias atrás
Okta Boosts FY24 Outlook As Q3 Results Top Estimates

(RTTNews) - Independent identity partner Okta, Inc. (OKTA) reported Wednesday a net loss for the third quarter of $81 million or $0.49 per share, sharply narrower than $209 million or $1.32 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $79 million or $0.44 per share, compared to Nil in the year-ago quarter.

Total revenue for the quarter increased 21 percent to $584 million from $481 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share on revenues of $563.14 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects adjusted earnings in a range of $0.50 to $0.51 per share on total revenue between $585 million and $587 million. Analysts expect earnings of $0.35 per share on revenues of $580.27 million for the quarter.

For fiscal 2024, the Company now projects adjusted earnings in a range of $1.47 to $1.48 per share on total revenue between $2.243 billion and $2.245 billion. Previously, the company expected earnings in the range of $1.17 to $1.20 per share on total revenue between $2.207 billion and $2.215 billion.

The Street is looking for earnings of $1.18 per share on revenues of $2.21 billion for the year.

Preliminary outlook for fiscal 2025 is for total revenue between $2.460 billion and $2.470 billion. Analysts currently expect revenues of $2.56 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Etiquetas: OKTA
read more
New Zealand Unemployment Data Due On Wednesday

New Zealand Unemployment Data Due On Wednesday

New Zealand will on Wednesday release Q2 figures for unemployment, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to tick up to 5.3 percent from 5.1 percent following a 0.1 percent loss in employment.
RTTNews | 13 minutos atrás
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Switzerland market closed modestly higher on Tuesday after staying positive right through the day's trading session, with investors mostly reacting to the latest quarterly performance of big name companies.
RTTNews | 4 h 46 min atrás
European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European markets closed mostly higher on Tuesday, although gains in most of the markets were just marginal or modest, as investors stayed somewhat cautious, reacting to a mixed batch of economic data, and assessing the impact of steep U.S. tariffs on the global economy.
RTTNews | 5 h 6 min atrás
U.S. Service Sector Growth Unexpectedly Slows In July

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.
RTTNews | 7 h 43 min atrás
U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.
RTTNews | 8 h 30 min atrás