Why Okta's Shares Dropped 9.6% on Thursday

Travis Hoium, The Motley Fool
·2 min read
Why Okta's Shares Dropped 9.6% on Thursday

Shares of Okta (NASDAQ: OKTA) fell as much as 9.6% in trading on Thursday after the company reported fourth-quarter 2021 results. On an adjusted basis, which pulls out one-time items, the company made a profit of $8 million, or $0.06 per share. In fiscal 2022, management said they expect revenue growth of 29% to 30% to $1.08 billion to $1.09 billion, and a loss of $0.44 to $0.49 per share.