Coupa Software (COUP) on Monday delivered January-quarter earnings and revenue that topped estimates amid its acquisition spree. But Coupa stock plunged as management’s guidance for the current fiscal year fell far short of expectations.
X
San Mateo, Calif.-based Coupa reported fourth-quarter earnings after the market close. Shares plunged 28% to near 64 in extended trading on the stock market today.
In Monday’s regular session, Coupa stock had retreated 9.6%.
The software maker said that on an adjusted basis, Coupa earnings rose 12% to 19 cents per share. Revenue climbed 18% to $193.3 million.
Analysts expected Coupa earnings of 5 cents on revenue of $186.2 million. A year earlier, Coupa earned 17 cents a share on sales of $163.5 million.
Coupa Stock: Guidance Misses Estimates
In the fourth quarter, billings rose 18% to $318.5 million, the company said. For the current 2023…
