Okta reports strong guidance after Q4 results beat estimate; shares jump

Investing.com -- Okta reported Wednesday strong guidance for the current quarter following fourth-quarter results that topped Wall Street estimates, driven by a slew of new business wins.

Okta Inc (NASDAQ: OKTA) was up 17% in afterhours following the report.

For the three months ended Jan. 31, Okta reported adjusted earnings of $0.63 per diluted share, up from $0.30 a year earlier, on revenue of $605 million, up from $510M a year earlier. That topped Wall Street estimates of $0.51 on revenue of $587.2M.

The beat on the top line was driven by "strength with large customers," the company said, as its current remaining performance obligations, or cPRO, climbed 16% to $1.95B in Q4 from a year earlier.

Looking ahead, the company guided Q1 adjusted EPS of $0.54 to $0.55 on revenue of $603M to $605M, topping estimates of $0.42 on revenue of $583.7M.

For the full-year the company sees adjusted EPS of $2.24 to $2.29 on revenue of about $2.50B to $2.51B.

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