Why Okta's Shares Dropped 9.6% on Thursday
Shares of Okta (NASDAQ: OKTA) fell as much as 9.6% in trading on Thursday after the company reported fourth-quarter 2021 results. The stock closed down 6.2% on the day, following yesterday's 6.9% decline.
Last quarter, revenue jumped 40% to $234.7 million, and net loss was $75.8 million, or $0.58 per share. On an adjusted basis, which pulls out one-time items, the company made a profit of $8 million, or $0.06 per share.
In fiscal 2022, management said they expect revenue growth of 29% to 30% to $1.08 billion to $1.09 billion, and a loss of $0.44 to $0.49 per share.
Source Fool.com
