Okta pops more than 20% on strong earnings and guidance beat

Todd McKinnon, chief executive officer of Okta Inc., smiles during a Bloomberg Technology television interview in San Francisco, California, U.S., on Monday, April 4, 2022. Okta shares soared 22% on Tuesday after the cloud-based identity management company delivered strong fourth-quarter earnings and beat estimates on guidance. The move put the stock on pace for its best day in more than a year. Okta posted adjusted earnings late Monday of 78 cents per share, while revenue increased 13% from a year earlier to $682 million. That beat the average analyst estimates of 73 cents per share of earnings and $669.6 million in revenue, according to LSEG. First-quarter revenue should come in between $678 million and $680 million, which also topped estimates. On the company's earnings call, CEO Todd McKinnon called it a "blowout quarter" as bookings topped $1 billion in a single period for the first time. "We're excited about the momentum we've built going into FY 2026 and are taking the rig ... Read full article.