Okta pops more than 24% on strong earnings and guidance beat, posts best day in more than two years

Todd McKinnon, CEO of Okta Inc., smiles during a Bloomberg Technology television interview in San Francisco on April 4, 2022. Okta shares soared 24.3% on Tuesday after the cloud-based identity management company delivered strong fourth-quarter earnings and beat estimates on guidance. The move rocketed the stock to its best day since Dec. 1, 2022, when shares rallied 26%. 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 in 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 right steps to advance our p ... Read full article.