Okta Earnings: 3 Big Takeaways
Given the stock's 100%-plus increase to date in 2019, investors had high expectations around Okta's (NASDAQ: OKTA) second-quarter report. The digital identity management specialist raised its outlook in late May after posting surprisingly strong sales growth, especially among its high-value contracts.
Okta this past week again boosted that outlook after trouncing its latest sales targets. Investors who have been worried about its streak of net losses, meanwhile, could celebrate the fact that the cybersecurity software company is marching closer to the breakeven point. With those big-picture trends in mind, let's look at a few key takeaways from Okta's recent earnings report.
The company reported sales of $141 million, representing 49% growth year over year. CEO Todd McKinnon and his team had predicted $131 million of sales and a 38% growth rate, and so the actual result was again far above expectations.
Source Fool.com
