Okta (OKTA) Reports Q3 Earnings: What Key Metrics Have to Say

Okta (OKTA) reported $665 million in revenue for the quarter ended October 2024, representing a year-over-year increase of 13.9%. EPS of $0.67 for the same period compares to $0.44 a year ago.The reported revenue represents a surprise of +2.40% over the Zacks Consensus Estimate of $649.42 million. With the consensus EPS estimate being $0.57, the EPS surprise was +17.54%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.Here is how Okta performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Remaining performance obligations: $3.66 billion versus the five-analyst average estimate of $3.51 billion. Current remaining performance obligations (cRPO): $2.06 billion compared to the $1.99 billion average estimate based on five analysts. Total Customers: 19,450 versus the three-analyst average estimate of 19,608. TTM Dollar Based Net Retention Rate: 108% compared to the 110% average estimate based on two analysts. Revenue- Subscription: $651 million versus $634.95 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change. Revenue- Professional services and other: $14 million compared to the $14.26 million average estimate based on 10 analysts. The reported number represents a change of -6.7% year over year. View all Key Company Metrics for Okta here>>>Shares of Okta have returned +10.4% over the past month versus the Zacks S&P 500 composite's +5.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Okta, Inc. (OKTA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks