Concur Technologies up 10% on Strong Q2 Earnings

Concur Technologies CNQR is trading higher on the session followings its Q2 earnings announcement yesterday. The company reported an EPS of $0.31 vs $0.19 estimate and revenues of $108.4 million vs $105.90 million estimates. Steve Singh, chairman and CEO of Concur said: "Our results were exceptionally strong in the second quarter of fiscal 2012. We beat our expectations across all key metrics and are raising our full-year business outlook for revenue, operating margin, earnings and cash flow. Our core business continues to perform ahead of our expectations across all geographies and channels, with better-than-expected contributions from new growth initiatives including the SMB and unmanaged travel markets, as well as India and Japan. The higher-than-expected full-year business outlook for operating margin and earnings is primarily driven by higher-than-expected revenue performance." Concur Technologies is currently trading at $63.91, a gain of $5.93 or 10.23%.