Coupa Software Inc COUP shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected financial results and announced a $100 million buyback.
Coupa Software said second-quarter revenue jumped 18% year-over-year to $211 million, which beat average analyst estimates of $204.02 million, according to Benzinga Pro. The company reported quarterly earnings of 20 cents per share, which beat average analyst estimates of 9 cents per share.
"We delivered record revenues, strong growth in our subscription calculated billings, and we continue to deliver strong cash flows and profitability on a Non-GAAP basis," said Rob Bernshteyn, chairman and CEO of Coupa.
Coupa Software expects third-quarter revenue to be between $211 million and $214 million versus the estimate of $214.06 million. The company expects third-quarter earnings to be between 8 cents and 10 cents per share versus the estimate of 6 cents per share.
Coupa sees full-year revenue in a range of $838 million to $844 million versus the estimate of $840.31 million. The company expects full-year earnings to be between 37 cents and 44 cents per share versus the estimate of 26 cents per share.
Coupa also announced that its board authorized a share repurchase program of up to $100 million. The buyback program is currently set to expire on Sept. 1, 2023.
COUP Price Action: Coupa has a 52-week high of $166.21 and a 52-week low of $50.54.
The stock was up 12.34% in after hours at $62.71 at time of publication.
Photo: courtesy of Coupa.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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