Concur Technologies swung to a net loss during its second quarter largely due to its acquisition of TripIt. The Redmond maker of travel and entertainment expense management software reported a $2.6 million loss, which compared to net income of $6.7 million for same period last year. It posted revenue of $84.6 million for the quarter, a 16 percent increase.
Steve Singh, chairman and CEO of Concur, called it “another very strong quarter.” “With the acquisition of TripIt and the launches of Concur Japan and Concur India, we continue to expand our foundation for strong growth in the decade ahead,” he said.
More on the earnings here.