Home Business Coupa Software Shares Rise 14% After Investing.com Beats Q2 Earnings

Coupa Software Shares Rise 14% After Investing.com Beats Q2 Earnings

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© Reuters. Coupa Software shares rose 14% after beating Q2 earnings forecasts

Davit Kirokasyan

Shares of Coupa Software (NASDAQ: ) rose more than 14% in after-hours after the company reported earnings of $0.20 per share, beating the consensus estimate of $0.09.

Revenue rose 18% year-over-year to $211 million, compared to the consensus estimate of $203.83 million. Subscription revenue was up 23% year-over-year to $192.7 million.

“We are proud of our results this quarter. We delivered record revenues, strong growth in our current subscription accounts, and continue to deliver strong cash flow and profitability on a non-GAAP basis,” said Rob Bernstein, Chairman and CEO of Coopa.

The company expects 3/23 EPS to be in the range of $0.08-0.10, compared to the consensus estimate of $0.06, with revenue in the range of $211-214 million, compared to the consensus estimate of $214. million dollars.

The company is counting on the whole of 2023 earnings per share in the range of $0.37-$0.44 compared to the consensus of $0.26, and revenue in the range of $838-844 million compared to the consensus of $840.3 million.

The company also announced that its board of directors has authorized a share repurchase program of up to $100 million.

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