Coupa Software, Inc. reported an unexpected profit and surpassed analyst revenue estimates.
The technology/software company’s earnings for the latest quarter came in at 7 cents a share, compared to a loss of -10 cents that analysts had expected. The earnings-per-share also surpassed the prior year quarter’s 5 cents a share .
Revenue of $95.1 million for the quarter also exceeded analysts’ estimates of $85.4 million. The figure is also higher than the year-ago quarter’s $61.7 million.
Looking ahead, Coupa boosted its full-year revenue forecast to a range of $369 million to $372 million, compared with its prior projection of $342 million to $344 million.