Okta shares surge on strong earnings and AI identity demand

Okta reported stronger-than-expected second-quarter results, with revenue of $805 million, up 11% year over year, and adjusted earnings of $1.05 per share. Shares jumped more than 19% in extended trading.

The company raised its full-year outlook and highlighted growing demand for AI identity security, as it expands into securing AI agents. Okta also closed its acquisition of Permiso Security, adding identity threat detection and response capabilities.