SAN JOSE, Calif. - Bill.com Holdings Inc. (NYSE: NYSE:BILL) shares surged 17% in after-hours trading Thursday after the financial software company reported better-than-expected fiscal first-quarter results and issued an optimistic outlook that topped Wall Street estimates.
The company posted adjusted earnings of $0.63 per share for the quarter ended September 30, beating the analyst consensus of $0.50. Revenue rose 18% YoY to $358.5 million, exceeding expectations of $348.36 million.
"We delivered strong financial results and drove a fast pace of innovation as we executed well on our strategy to expand our leadership position in the financial operations category for SMBs," said René Lacerte, Bill.com CEO and Founder.
For the fiscal second quarter, Bill.com forecast adjusted earnings of $0.44-$0.48 per share on revenue of $355.5-360.5 million, above consensus estimates of $0.35 EPS and $355 million in revenue. The company also raised its full-year outlook, now projecting adjusted EPS of $1.65-$1.83 on revenue of $1.439-1.464 billion.
Core revenue, consisting of subscription and transaction fees, grew 19% YoY to $314.9 million. The company served 476,200 businesses at quarter-end, processing $80 billion in total payment volume, up 14% YoY.
Bill.com repurchased approximately 3.7 million shares for $200 million during the quarter as part of its previously announced share buyback program.
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