Coupa Software Trades Higher On Q2 Earnings Beat, Higher Guidance

Coupa Software COUP shares are trading higher after the company reported second-quarter EPS results up from last year along with better-than-expected sales results. The company also issued guidance above analyst estimates.

Coupa Software reported quarterly earnings of 7 cents per share, up from 5 cents per share from the same period last year. The company reported quarterly sales of $95.1 million, which beat the analyst consensus estimate of $85.38 million. This is a 54.26% increase over sales of $61.651 million the same period last year.

Coupa Software sees third-quarter sales of $95.5 million-$96.5 million versus an $86.9 million estimate. The company also sees 2020 sales of $369 million-$372 million versus a $347 million estimate.

"These results demonstrate our continued momentum in delivering measurable and repeatable value to our customers. By extending our leadership standing in Business Spend Management (BSM), we feel well positioned on our path to $1 billion in revenue," said Rob Bernshteyn, chairman and CEO.

Coupa Software shares traded higher by 11% in Tuesday's after-hours session. The stock closed at $134.40.