Okta Shares Plunge on Cautious Outlook Despite Strong Earnings

Okta, a leading identity and access management company, saw its shares drop sharply after reporting strong second-quarter earnings. While the company exceeded analysts’ expectations on both revenue and profits, its forward-looking guidance disappointed investors. The company expressed caution about future performance, citing potential economic headwinds. The stock’s decline reflects a broader trend of market concern regarding the sustainability of growth in the technology sector.