Concur Raises Expectations After Strong Quarter

Following "exceptionally strong" March quarter results, Concur raised its near-term guidance for revenue, operating margin, earnings and cash flow, including an expectation for revenue growth of 25.5 percent in the current quarter. Concur on Wednesday reported March quarter revenue of $108.4 million, which at 28 percent higher than a year earlier represented the company's "highest year-over-year growth rate since the beginning of the recession," CFO Frank Pelzer told analysts during a conference call.