Connect with us

Hi, what are you looking for?

[stock_market_widget type="ticker-quotes" template="chart" color="#5679FF" assets="MSFT,AAPL,NFLX,GOOG,TSLA,NFLX,AMZN" animation="true" display_currency_symbol="true" api="yf" speed="50" direction="left" pause="true"]

Top Stories

Bill.com stock rallies 10% after earnings, outlook beat

Bill.com Holdings Inc. shares rallied in the extended session Thursday after the business-automation software company reported earnings and outlook that both topped Wall Street expectations. Bill.com BILL, +1.63% shares rallied as much as 10% after hours, following a 1.6% gain in the regular session to close at $79.91. The company reported a third-quarter loss of

bill.com-stock-rallies-10%-after-earnings,-outlook-beat

Bill.com Holdings Inc. shares rallied in the extended session Thursday after the business-automation software company reported earnings and outlook that both topped Wall Street expectations.

Bill.com BILL, +1.63% shares rallied as much as 10% after hours, following a 1.6% gain in the regular session to close at $79.91.

The company reported a third-quarter loss of $31.1 million, or 29 cents a share, compared with a loss of $86.7 million, or 84 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 50 cents a share, versus a loss of 8 cents a share in the year-ago period.

Revenue rose to $272.6 million from $166.9 million a year ago. Analysts surveyed by FactSet had estimated earnings of 24 cents a share on revenue of $247.1 million, based on the company’s forecast of 22 cents to 25 cents a share on revenue of $245 million to $248 million.

“We delivered strong third-quarter results and profitable growth as we executed on our strategy to be the essential financial operations platform for [small- to medium-sized businesses],” said René Lacerte, Bill founder and chief executive, in a statement.

Small- to medium-sized (SMB) businesses have been particularly hard sells in light of a looming recession, one reason why cybersecurity company CrowdStrike Holdings Inc. CRWD, +0.18% said back in March it was targeting the SMB market.

Bill.com forecast third-quarter earnings of 39 cents to 41 cents a share on revenue of $277 million to $280 million for the fourth quarter, and hiked its annual guidance to $1.46 to $1.48 a share on revenue of about $1.04 billion.

Analysts had estimated 23 cents a share on revenue of $267.8 million for the fourth quarter, and $1.04 a share on revenue of $1 billion for the year. Previously, the company had forecast 99 cents to $1.05 a share on revenue of $999 million to $1.01 billion for the year.

Year to date, Bill.com shares closed Thursday down 26.7%, while the tech-heavy Nasdaq Composite Index COMP, -0.49% has risen 14.3%, and the S&P 500 index SPX, -0.72% has advanced 5.8%.

Advertisement. Scroll to continue reading.

You May Also Like

Mining

NAL spodumene concentrate production remains targeted for H1 2023 with revenue potential in Q3 2023. Credit: Piedmont Piedmont Lithium (Nasdaq: PLL; ASX: PLL) announced...

Stocks

SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Thursday’s session are BlackBerry Ltd., Oracle Corp., and...

Tech

Over 90% of cybercrime activities that lead to financial fraud or identity theft start with an email impersonation, commonly known as phishing and spoofing....

Top Stories

Following a down year for the stock market, there is no shortage of recession predictions for 2023, especially as the Federal Reserve has signaled...

Advertisement