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Coupa Software Gains After Reporting Narrower Loss In Q2

Shares of Coupa Software Inc. (COUP) are trading more than 15 percent higher on Wednesday morning after the company reported loss for the second quarter, narrower than the prior year.

The provider of a cloud-based business spend management platform reported loss attributable to Coupa of $75.27 million or $0.99 per share, compared to $91.47 million or $1.24 per share in the prior year. On an adjusted basis, earnings were $0.20 per share. Wall Street analysts were looking for earnings of $0.26 per share.

Looking ahead to the third quarter, the company expects adjusted profit attributable to Coupa in a range of $0.08 - $0.10 per share. Analysts are projecting $0.04-$0.14 per share. Revenues for the third quarter is expected in a range of $211.0-$214.0 million. Street view is in a range of $209-$219.5 million.

For fiscal 2023, earnings projection is in a range of $0.37 to $0.44 per share, while revenue is expected to be in a range $838.0 to $844.0 million. Wall Street estimates is $0.43 per share on revenue of $853.8 million.

Revenue for the quarter increased 18 percent to $211.10 million from $179.25 million last year.

Currently, COUP shares are at $64.40, up 15.38 percent from the previous close of $55.82 on a volume of 3,419,288.

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