SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Okta Inc. (OKTA) on Tuesday reported fiscal first-quarter profit of $62 million. The San Francisco-based company said it had profit of 35 cents per share. Earnings, adjusted for one-time gains and costs, were 86 cents per share. The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share. The cloud identity management company posted revenue of $688 million in the per ...

Okta (OKTA) shares soared 7.4% in the last trading session to close at $112.54. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.4% loss over the past four weeks.Okta is benefiting from strong demand for its identity security solutions, driven by product innovation, and growing customer adoption of new offerings like Okta Identity Governance.This cloud identity management company is expected to post quarterly earnings of $0.77 p ...