Shares of Coupa Software (NASDAQ: COUP) climbed sharply higher this week, surging as much as 23.9%, according to data provided by S&P Global Market Intelligence. As of 3:04 p.m. ET on Thursday, the stock was still up 22.9%.

The catalyst that drove the business spending management specialist higher was bullish financial results and a more robust outlook.

For the fiscal 2023 second quarter (ended July 31), Coupa generated record quarterly revenue of $211 million, up 18% year over year, driven by record quarterly subscription revenue of $193 million, up 23%. This resulted in non-GAAP (adjusted) earnings per share (EPS) of $0.20, down 23%. 

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Source Fool.com