US Stock Market Move | The explosion in AI security demand drives revenues beyond expectations, leading to Okta (OKTA.US) skyrocketing nearly 23% after earnings.

On Thursday, Okta (OKTA.US) opened significantly higher, with an increase of nearly 23% as of the time of publication. In terms of news, OKTA released its second-quarter financial report, showing Q2 revenue of $805 million (+11%) and adjusted EPS of $1.05, both exceeding market expectations; remaining performance obligations (RPO) reached $4.86 billion, a year-on-year increase of 17%, reflecting the resilience of long-term subscription contracts. The company expects its full-year revenue target range to be $3.216 billion to $3.226 billion (the second upward revision this fiscal year). Benefiting from the sustained rise in corporate demand for AI security, Okta's quarterly performance has significantly surpassed market expectations, leading to a second upward adjustment of its full-year revenue guidance for the year, as interest in the AI cybersecurity sector is rapidly increasing.