- Coupa Software ( NASDAQ: COUP ) shares jumped nearly 12% in extended-hours trading on Tuesday after the business spend management company issued second-quarter results and guidance that topped expectations, while also announcing a $100M buyback.
- The San Mateo, California-based Coupa Software ( COUP ) said it earned an adjusted 20 cents per share on $211.1M in revenue. Analysts were expecting Coupa ( COUP ) to earn 9 cents per share, excluding one-time items, on $204M in revenue.
- Looking to the third-quarter Coupa ( COUP ) said it expects adjusted earnings between 8 and 10 cents per share, with sales between $211M and $214M. Analysts expect adjusted earnings of 6 cents per share and $214.1M in sales.
- For the full-year, Coupa ( COUP ) slightly raised the top-end of its revenue forecast, as it now sees sales between $838M and $844M, above a previous forecast of $838M to $843M.
- Coupa ( COUP ), led by Chief Executive Rob Bernshteyn, also unveiled a $100M buyback program.
- The company will hold a conference call at 4:30 p.m EST to discuss the results.
- Last month, investment firm RBC said Coupa Software ( COUP ) would be among the hardest hit software companies in an economic downturn .
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Coupa Software rockets as Q2 results, guidance top expectations, launches $100M buyback