Afternoon Coffee: Coupa Reports Q3 Earnings, Bitcoin Futures Surge on First Day of Trading

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Coupa announced last week its Q3 2017 results, reporting revenues of $47.3 million, an increase of 34% from the same period last year, according to a press release. Highlights during the quarter included new deals with Toyota Financial Services and Zurich Insurance, as well as the launch of Release 19.

“Q3 was another strong quarter for Coupa, highlighted by 39% growth in subscription revenues and our third consecutive quarter with positive operating cash flows,” said Rob Bernshteyn, CEO of Coupa. “With our latest product release, we continue to focus on delivering the most innovative and open Cloud platform for business spend and driving measurable customer value.”

Bitcoin Futures

Bitcoin futures debuted at the Chicago Board Options Exchange Sunday night, surging to 20% over their launch price, to more than $18,000 for the January contract, according to Quartz. Two circuit breakers were triggered during the course of the trading, and the frenzy is not expected to die down any time soon, with a rival contract from CME Group around the corner.

Ford Looks to EVs

Adding yet more fuel to the NAFTA negotiation fire, Ford announced plans to produce a future electric car in Mexico rather than in the US, according to the Wall Street Journal. The suburban Detroit facility that was originally slated to produce the EV will instead become a manufacturing hub for future driverless vehicles.

Consumer Sentiment 

And finally, an economic update: Consumer sentiment in the US slipped for a second month, although the main index still indicated Americans have a relatively positive outlook about the economy, Bloomberg reports.

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