Shares of Bill.com Holdings BILL are trading higher today following a better-than-expected earnings report.
Why Is It Moving?
The company reported its fourth-quarter and full-year 2022 earnings, following the closing bell on Thursday, which is sending the stock up this morning. The business management platform reported both a strong fourth quarter and significant increases in yearly earnings.
Bill.com beat the consensus analyst estimate for both its quarterly revenue and earnings per share (EPS). Quarterly revenue was reported at $200.221 million beating the estimated $183.100 million. EPS was reported at –$0.030 beating the estimated –$0.130.
For its full-year earnings, Bill.com reported a total revenue of $642.0 million, an increase of 169% from the prior fiscal year. Core revenue, which consists of subscription and transaction fees, was reported at $633.4 million, an increase of 173% from the prior fiscal year.
“We delivered a strong fourth quarter to conclude fiscal 2022, serving 400,000 businesses and crossing $200 million in quarterly revenue,” said Bill.com CEO and Founder René Lacerte.
“Fiscal 2022 was a transformative year for Bill.com. We significantly expanded our platform’s solutions and extended our reach to serve customers ranging from sole proprietors to mid-market companies. We entered new strategic partnerships and began building a global customer base, serving businesses in more than 150 countries. With our platform, ecosystem, and scale, we are well positioned to help millions of businesses transform their financial operations.”
BILL Price Action: Shares are up 16.5% to $174.00 during Friday’s premarket trading session, according to Benzinga Pro.
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