Coupa Software shares jump 12% on strong Q3 revenue guidance

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Shares of Coupa Software Inc.
COUP,
+0.54%
jumped 12% in extended trading Tuesday after the software company reported fiscal second-quarter results. Coupa reported a net loss of $91.5 million, or $1.24 a share, compared with a net loss of $43.1 million, or 64 cents a share, in the year-ago quarter. Revenue rose 42% to $179.2 million from $125.9 million a year ago. The revenue breezed past analyst estimates, and Coupa offered strong third-quarter revenue guidance of between $177 million and $178 million — easily topping estimates. Analysts surveyed by FactSet had expected a net loss of 6 cents a share on revenue of $162.9 million during the second quarter. Coupa’s stock is down 22% so far in 2021. The broader S&P 500 index
SPX,
-0.34%
has gained 20% this year.

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