Okta shares surged over 24% after strong fourth-quarter earnings and guidance, marking their best day since December 2022. The cloud-based identity management company exceeded analyst expectations with higher adjusted earnings and revenue growth from the previous year. CEO Todd McKinnon called it a blowout quarter as bookings surpassed a major milestone. Okta provides tools for companies to manage employee access and device security. Okta shares have rebounded this year after a previous decline. The recovery follows a high-profile data breach in late 2023 that exposed client files.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Okta shares surged over 24% after strong fourth quarter earnings and guidance,
00:06marking their best day since December 2022. The cloud-based identity management company
00:12exceeded analysts' expectations with higher adjusted earnings and revenue growth from
00:16the previous year. CEO Todd McKinnon called it a blowout quarter as booking surpassed a major
00:21milestone. Okta provides tools for companies to manage employee access and device security.
00:27Okta shares have rebounded this year after a previous decline.
00:30The recovery follows a high-profile data breach in late 2023 that exposed client files.