Okta jumps 8%, tops first-quarter results on agentic AI demand
Key points
- Okta beat Wall Street's fiscal first-quarter estimates after the bell on Thursday as demand for identity security tools spikes with the onslaught of agentic artificial intelligence.
- Shares gained 8%.
- Here's how the company did versus LSEG estimates Earnings per share: 91 cents adjusted vs. 85 cents expected 91 cents adjusted vs. 85 cents expected Revenue: $765 million vs. $752 million expected The identity security provider said revenue grew 11% from a year ago.
- Net income rose to $74 million, or 42 cents per share, from $62 million, or 35 cents per share, a year ago.
- CEO Todd McKinnon told CNBC that the agentic AI buildout is spiking demand for identity tools from Okta, but AI is not yet a majority of its revenues.
Quick Summary
Okta beat Wall Street's fiscal first-quarter estimates after the bell on Thursday as demand for identity security tools spikes with the onslaught of agentic artificial
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Okta jumps 8%, tops first-quarter results on agentic AI dema.
Key Takeaways
- Okta beat Wall Street's fiscal first-quarter estimates after the bell on Thursday as demand for identity security tools spikes with the onslaught of agentic artificial intelligence.
- Here's how the company did versus LSEG estimates Earnings per share: 91 cents adjusted vs.
- 85 cents expected 91 cents adjusted vs.
- 85 cents expected Revenue: $765 million vs.
- $752 million expected The identity security provider said revenue grew 11% from a year ago.
📌 Source: CNBC
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