Okta shares drop despite better-than-expected earnings

Shares in cloud identity management service provider Okta Inc. dropped in after-hours trading today despite the company topping analysts estimates in its fiscal first-quarter earnings. For the quarter ended April 30, Okta reported revenue jumped 46%, to $182.9 million, from a year ago, with a loss adjusted for stock option and other expenses of $8.1 million, or seven cents per share.

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