Coupa (coup) on Monday posted earnings and revenue for the January quarter that beat estimates amid the acquisition spree. But Coupa stock fell as management’s guidance for the current fiscal year fell well short of expectations.
California-based Coupa reported fourth-quarter earnings after the market closed. Shares fell 28% to nearly 64 in extended trading on stock market today.
In the regular Monday session, Coupa’s stock is down 9.6%.
On an adjusted basis, the software maker said Coupa’s earnings rose 12% to 19 cents a share. Revenue jumped 18% to $193.3 million.
Analysts expected Coupa to earn 5 cents on revenue of $186.2 million. A year ago, Coupa earned 17 cents a share on sales of $163.5 million.
Coupa Stock: Guidance misses estimates
The company said that bills in the fourth quarter rose 18 percent to $318.5 million. For the current fiscal year 2023, the business spending management software maker projected revenue of $838 million midway through its guidance versus estimates of $876.4 million.
Coupa says it expects an adjusted profit of 17 cents. Analysts expected 73 cents.
Heading to Coupa’s earnings report, company a . stock has Rated relative strength out of 10 out of 99 possible, according to IBD Market Smith Analytics.
Coupa stock is down 46% in 2022.
Coupa software products cover employee travel, expense management, procurement and billing.
Since late 2018, Coupa has been on an acquisition spree. It bought Llamasoft, Bellin, Hipperos, Exari, and Yapta.
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