Coupa Software Inc. on Monday said its third-quarter loss narrowed to $84.68 million, or $1.11 a share, from a loss of $91.2 million, or $1.23 a share, in the year-ago quarter. Adjusted earnings for the business software company fell to 15 cents a share in the third quarter, from 31 cents a share in the year-ago period. Revenue rose 17% to $217.3 million. Wall Street analysts expected Coupa Software to earn 10 cents a share in adjusted profit on revenue of $213.4 million, according to FactSet. Coupa Software also agreed to be acquired by Thoma Bravo for $8 billion. (See earlier Pulse item.) Shares of Coupa Software are rallying 27% in premarket trades.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.