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Todd McKinan, CEO and Co-founder Okta, speaks during the Boxworks 2019 conference in San Francisco, California, October 3, 2019.
Michael Short | Bloomberg | Gets the image
Act It is reported higher than expected by profit and profit on Tuesday, but supported their recommendations as the personnel management provider struggles with an uncertain economic background. The stock plunged into 11% in extended bidding.
Here’s how the company did compared to LSEG’s estimates:
- EPS: 86 cents adjusted against 77 cents expected
- Income: 688 million dollars vs. $ 680 million expected
Revenue in the financial first quarter rose 12% from $ 617 million a year ago. The subscription revenue increased by the same amount to $ 673.
Okta reported a net income of $ 62 million, or 35 cents per share, leaving for a net loss of $ 40 million, or 24 cents per share a year ago.
Okta said he accepted a “prudent approach” to his worldview, maintaining his recommendations for the financial year. Earlier, the company said it expected revenue from $ 2.85 to $ 2.86 billion a year.
“If we look forward to our worldview, we put a little conservatism for the potentially some macro -determination,” said CEO Tod McKinan in an interview with CNBC. “Great picture, we are in a good position in our market” for identity security.
Many technology companies and abroad have been canceled or their forecasts, as President Donald Trump announced broad new tariffs in April. The market was late when the administration went back or stopped a number of these levies.
McKinan said client discussions turned into “more careful”, but he said he did not affect the business in the first quarter.
While the company has retained its income forecast, which it released in March, it slightly increased its revenue recommendations from $ 710 to $ 705 million to $ 705 million.
Current fulfillment reached $ 2.23 billion before marking $ 2.19 billion.
The company will be analyzed to discuss its results at 5 pm.
