UPDATE 1-Concur Technologies Q1 beats Street, sees strong Q2
* Q1 adj EPS $0.30 vs est EPS $0.18
* Q1 rev $80.2 mln vs est $79.5 mln
* Sees Q2 adj EPS $0.24 vs est EPS $0.20
* Sees Q2 rev up about 15.5 pct
Feb 2 (Reuters) - Money management software maker Concur Technologies Inc (CNQR.O) posted first-quarter results that beat expectations on higher service and subscription revenue and forecast strong second-quarter profits.
The company expects second-quarter earnings of 24 cents per share on a revenue increase of about 15.5 percent.
Analysts, on average, are expecting an income of 20 cents per share on revenue of $84.2 million, according to Thomson Reuters I/B/E/S.
Concur Technologies, founded in 1993, provides its customers, including American Express (AXP.N), employee spend management software, through its products called Concur Travel & Expense and Concur Audit.
For the October-December period, Concur earned $3.7 million, or 7 cents per share, compared with $6.4 million, or 12 cents per share, a year ago.
Excluding items, it earned 30 cents per share, above analysts' expectations of 18 cents per share.
Revenue for Concur -- which competes with Compuware Corp (CPWR.O) -- rose 19 percent to $80.2 million, beating Street expectations of $79.5 million.
The Redmond, Washington-based company, which recently acquired mobile trip management software maker TripIt, fell 5 cents in after-market trade after closing at $51.20 on Wednesday on Nasdaq. They have fallen 2 percent in the last three months. (Reporting by Siddharth Cavale in Bangalore; Editing by Joyjeet Das)
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