Why Okta Stock Rocketed Higher Tuesday Morning
Shares of Okta (NASDAQ: OKTA) barreled out of the gate Tuesday, gaining as much as 19.9%. As of 11:54 a.m. ET, the stock was still up 18.4%.The catalyst that sent the cybersecurity specialist higher was its quarterly earnings results, which provided upbeat news for shareholders.For its fiscal 2025 fourth quarter (ended Jan. 31), Okta generated revenue of $682 million, up 13% year over year, fueled by subscription revenue that grew 13% to $670 million. Cost controls increased its bottom line, as Okta swung from a net loss of $44 million to a profit of $23 million. This resulted in adjusted earnings per share (EPS) of $0.78. Analysts' consensus estimates were calling for revenue of $668 million and EPS of $0.74, so Okta cleared both hurdles with ease.Continue reading
Shares of Okta (NASDAQ: OKTA) barreled out of the gate Tuesday, gaining as much as 19.9%. As of 11:54 a.m. ET, the stock was still up 18.4%.
The catalyst that sent the cybersecurity specialist higher was its quarterly earnings results, which provided upbeat news for shareholders.
For its fiscal 2025 fourth quarter (ended Jan. 31), Okta generated revenue of $682 million, up 13% year over year, fueled by subscription revenue that grew 13% to $670 million. Cost controls increased its bottom line, as Okta swung from a net loss of $44 million to a profit of $23 million. This resulted in adjusted earnings per share (EPS) of $0.78. Analysts' consensus estimates were calling for revenue of $668 million and EPS of $0.74, so Okta cleared both hurdles with ease.
