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00:02Octashare surged 20% in extended trading after the identity software company beat Wall Street's
00:08fiscal second quarter estimates and raised its full year outlook according to CNBC.
00:13The cloud-based software company reported adjusted earnings of $1.05 per share on revenue of $805
00:20million, topping expectations of $0.97 per share and $795 million. Revenue rose 11% year over year
00:29while net income increased to $116 million from $67 million. Subscription backlog rose 17% to $4.86
00:40billion above estimates. Okta said new products accounted for 30% of bookings as it closed dozens
00:47of AI deals. The company also completed its roughly $200 million acquisition of Permiso Security.
00:54Okta now expects full year revenue of $3.22 billion to $3.23 billion and adjusted earnings
01:02of $3.90 to $3.94 per share. For all things money, visit Benzinga.com.
