Why Bill Holdings Stock Is Bouncing Higher After Hours

BILL Holdings Inc BILL shares are rising in extended trading Thursday after the company reported better-than-expected quarterly results.

• Q3 Revenue: $272.56 million beat estimates of $246.82 million
• Q3 EPS: 50 cents beat estimates of 24 cents

Core revenue, which consists of subscription and transaction fees, was up 45% year-over-year, while total revenue climbed 63%. 

Bill processed $64.7 billion in total payment volume during the quarter on 21.4 million transactions, up 13% and 36% year-over-year, respectively. 

"Our performance highlights the strength of our business model and our commitment to deliver balanced growth and profitability," said John Rettig, CFO of Bill Holdings.

Outlook: Bill sees fiscal fourth-quarter revenue in a range of $277 million to $280 million, representing growth of 38% to 40%. The company expects adjusted earnings to be between 39 cents and 41 cents per share.

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BILL Price Action: Bill shares were up 13.8% after hours at $90.90 at the time of writing, according to Benzinga Pro.

Photo: Joshua Woroniecki from Pixabay.