Okta Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St

December 01, 2023

Okta (NASDAQ:OKTA) Third Quarter 2024 Results

Key Financial Results

Revenue: US$584.0m (up 21% from 3Q 2023).
Net loss: US$81.0m (loss narrowed by 61% from 3Q 2023).
US$0.49 loss per share (improved from US$1.32 loss in 3Q 2023).

earnings-and-revenue-growth — NasdaqGS:OKTA Earnings and Revenue Growth December 1st 2023

All figures shown in the chart above are for the trailing 12 month (TTM) period

Okta Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.2%. Earnings per share (EPS) also surpassed analyst estimates by 39%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the IT industry in the US.

Performance of the American IT industry.

The company's shares are down 6.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Okta that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.