BILL Holdings Jumps As Q3 Results, Outlook Above Estimates

(RTTNews) - Shares of BILL Holdings, Inc. (BILL) are rising more than 15% Friday morning after reporting better-than-expected earnings for the third quarter. BILL's fourth-quarter as well as full-year outlook also came in above analysts' view.

BILL Holdings provides software-as-a-service, cloud-based payments, and spend management products.

The company reported a net loss of $31.1 million, or $0.29 per share for the third quarter, narrower than $86.7 million, or $0.84 per share, last year, driven by revenue growth.

Excluding one-time items, BILL posted earnings of $58.7 million, or $0.50 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.24 per share.

Total revenue was $272.6 million, an increase of 63% year-over-year.

Looking forward to the fourth quarter, BILL expects revenue in the range of $277 million - $280 million, and adjusted EPS in the range of $0.39 - $0.41. Analysts expect the company to report earnings of $0.23 per share on revenue of $267.44 million for the quarter.

For the full year, revenue is expected between $1.039 billion and $1.043 billion, and adjusted EPS in the range of $1.46 - $1.48. The consensus estimate for earnings is at $1.04 and for revenue is at $995.05 million.

BILL is at $92.50 currently. It has traded in the range of $68.30-$179.85 in the last 1 year.