Okta (OKTA) Q3 Earnings and Revenues Surpass Estimates

Core Insights - Okta reported quarterly earnings of $0.67 per share, exceeding the Zacks Consensus Estimate of $0.57 per share, and showing an increase from $0.44 per share a year ago, resulting in an earnings surprise of 17.54% [1][2] - The company achieved revenues of $665 million for the quarter ended October 2024, surpassing the Zacks Consensus Estimate by 2.40% and up from $584 million year-over-year [2] - Okta has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.67, with expected revenues of $649.09 million, while for the current fiscal year, the estimates are $2.61 EPS on $2.56 billion in revenues [8] - The estimate revisions trend for Okta is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Industry Context - The Internet - Software and Services industry, to which Okta belongs, is currently ranked in the top 8% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]