Concur, the Redmond maker of travel and entertainment expense management software, today reported a 28 percent increase in revenue, to $108.4 million, for its fiscal second quarter ended March 31. Non-GAAP net income came in at $18.5 million.
CEO Steve Singh called the results “exceptionally strong,” leading the company to raise its outlook for revenue and earnings for the year. It anticipates annual revenues this year of more than $500 million.
“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,” Singh said in a release.