Okta reports 3Q loss

SAN FRANCISCO (AP) _ Okta Inc. (OKTA) on Wednesday reported a loss of $33.8 million in its fiscal third quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 35 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 19 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The cloud identity management company posted revenue of $68.2 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $62.8 million.

For the current quarter ending in January, Okta expects its results to range from a loss of 18 cents per share to a loss of 17 cents per share.

The company said it expects revenue in the range of $70 million to $71 million for the fiscal fourth quarter.

Okta expects full-year results to range from a loss of 87 cents per share to a loss of 86 cents per share, with revenue ranging from $252 million to $253 million.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OKTA at https://www.zacks.com/ap/OKTA