Coupa Software program Inc COUP shares are buying and selling larger in Tuesday’s after-hours session after the corporate reported better-than-expected monetary outcomes and introduced a $100 million buyback.
Coupa Software program mentioned second-quarter income jumped 18% year-over-year to $211 million, which beat common analyst estimates of $204.02 million, in line with Benzinga Professional. The corporate reported quarterly earnings of 20 cents per share, which beat common analyst estimates of 9 cents per share.
“We delivered document revenues, robust development in our subscription calculated billings, and we proceed to ship robust money flows and profitability on a Non-GAAP foundation,” mentioned Rob Bernshteyn, chairman and CEO of Coupa.
Coupa Software program expects third-quarter income to be between $211 million and $214 million versus the estimate of $214.06 million. The corporate 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 income in a variety of $838 million to $844 million versus the estimate of $840.31 million. The corporate expects full-year earnings to be between 37 cents and 44 cents per share versus the estimate of 26 cents per share.
Coupa additionally introduced that its board licensed a share repurchase program of as much as $100 million. The buyback program is at the moment set to run out on Sept. 1, 2023.
COUP Worth Motion: Coupa has a 52-week excessive of $166.21 and a 52-week low of $50.54.
The inventory was up 12.34% in after hours at $62.71 at time of publication.
Picture: courtesy of Coupa.