After-Hours Alert: Why Bill.com Stock Is Soaring

Bill.com Holdings Inc BILL shares are trading higher in Thursday's after-hours session after the company announced better-than-expected financial results and issued revenue guidance above average analyst estimates. 

Bill.com said fiscal fourth-quarter revenue jumped 156% year-over-year to $200.2 million, which beat average analyst estimates of $183.1 million, according to Benzinga Pro. The company reported a quarterly net loss of 3 cents per share, which beat average analyst estimates for a loss of 13 cents per share.

"Looking ahead, we expect to deliver high revenue growth and to transition to being a non-GAAP profitable company in fiscal year 2023," said John Rettig, CFO of Bill.com.

Bill.com expects fiscal first-quarter revenue to be between $208 million and $211 million versus the estimate of $187.6 million. The company expects full fiscal-year 2023 revenue to be between $955 million and $973.5 million versus the estimate of $879.68 million.

See Also: Why Ross Stores Stock Dipped After Hours: 'We Are Disappointed With Our Sales Results'

BILL Price Action: Bill.com has a 52-week high of $262.16 and a 52-week low of $89.87.

The stock was up 18.5% in after hours at $177.03 at press time.

Photo: rupixen from Pixabay.