UPDATE: Concur Tech Posts Wider Q1 Loss, Issues Downbeat Q2 Forecast
Concur Technologies (NASDAQ: CNQR) posted a wider first-quarter loss and issued a downbeat second-quarter revenue forecast.
For the current quarter, Concur projects adjusted earnings of $0.24 per share on revenue growth of 19%. However, analysts expected earnings of $0.21 per share on revenue growth of 22%.
Concur posted a quarterly loss of $12 million, or $0.22 per share, versus a year-ago loss of $868,000, or $0.02 per share. Excluding other items, its earnings dropped to $0.30 from $0.32 per share.
Its revenue climbed 22% to $122.8 million. Concur in November had expected earnings of $0.30 per share on revenue growth of 21%.
Concur shares dropped 6.27% to $68.00 in after-hours trading.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.