Coupa Software reported April-quarter earnings and revenue that topped estimates as business travel bounced back, but the company's own outlook for COUP stock was mixed.
"Coupa reported a healthy Q1 with both revenue and margin upside, while macro uncertainty, incremental currency headwind and its ongoing professional services transition weighed on the company's fiscal 2023 and Q2 revenue outlook," said JPMorgan analyst Pinjalim Bora in a research note.
The software maker said that on an adjusted basis, Coupa earnings were 8 cents per share, up a penny from a year earlier. Revenue rose 18% to $196 million.
Analysts expected Coupa earnings of 5 cents on revenue of $191 million. A year earlier, Coupa earned 7 cents a share on sales of $167 million.
In the fourth quarter, billings rose 26% to $188 million versus estimates of $175.6 million.
COUP Stock: Guidance Mixed
For the current quarter ending in July, Coupa says it expects adjusted profit in a range of 7 cents to 10 cents. Analysts had predicted 5 cents.
The maker of business spending management software forecast revenue in a range of $202 million to $205 million, slightly below estimates of $205.3 million.
San Mateo, Calif.-based Coupa reported first-quarter earnings after the market close on Monday. COUP stock dipped 1% to 71.54 in morning trading on the stock market today.
Heading into the Coupa earnings report, the company's stock owned a dismal Relative Strength Rating of 6 out of a possible 99, according to IBD Stock Check-Up.
Shares Down 54% This Year
Also, Coupa stock has retreated 54% in 2022. Meanwhile, Coupa's software products cover employee travel and expense management, procurement and invoicing.
In addition, since late 2018, Coupa has been on an acquisition spree. It purchased Llamasoft, Bellin, Hipperos, Exari and Yapta.
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Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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