| Followers | 0 |
| Posts | 148553 |
| Boards Moderated | 7 |
| Alias Born | 03/10/2004 |
Wednesday, May 31, 2023 6:10:20 PM
Okta (OKTA) beats Q1, but stock plunges 13% on macro concerns
By: Investing.com | May 31, 2023
Okta (NASDAQ:OKTA) shares dropped more than 13% after-hours following the company’s reported Q1 results. While EPS of $0.22 and revenue of $518 million (up 25% year-over-year) came in better than the consensus estimates of $0.12 and $511.02M, respectively, the negative stock reaction was likely due to increasing macro pressures.
Subscription revenue grew 26% year-over-year to $503M. RPO, or subscription backlog, grew 9% year-over-year to $2.94 billion. Meanwhile, cRPO, which is a subscription backlog expected to be recognized over the next 12 months, was $1.70B, representing a 20% year-over-year growth.
For Q2/24, the company expects EPS in the range of $0.21-$0.22, compared to the consensus of $0.17, and revenue in the range of $533-$535M, compared to the consensus of $527.87M.
For the full year, the company expects EPS of $0.88-$0.93, compared to the consensus of $0.78, and revenue of $2.175-$2.185B, compared to the consensus of $2.17B.
Read Full Story »»»
DiscoverGold
By: Investing.com | May 31, 2023
Okta (NASDAQ:OKTA) shares dropped more than 13% after-hours following the company’s reported Q1 results. While EPS of $0.22 and revenue of $518 million (up 25% year-over-year) came in better than the consensus estimates of $0.12 and $511.02M, respectively, the negative stock reaction was likely due to increasing macro pressures.
Subscription revenue grew 26% year-over-year to $503M. RPO, or subscription backlog, grew 9% year-over-year to $2.94 billion. Meanwhile, cRPO, which is a subscription backlog expected to be recognized over the next 12 months, was $1.70B, representing a 20% year-over-year growth.
For Q2/24, the company expects EPS in the range of $0.21-$0.22, compared to the consensus of $0.17, and revenue in the range of $533-$535M, compared to the consensus of $527.87M.
For the full year, the company expects EPS of $0.88-$0.93, compared to the consensus of $0.78, and revenue of $2.175-$2.185B, compared to the consensus of $2.17B.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
