Bill Holdings Q2 Earnings: Revenue And EPS Beat, Hikes Outlook And More

Bill Holdings, Inc. BILL reported better-than-expected second-quarter financial results after the bell on Thursday. Here's a look at the highlights. 

Bill Holdings reported quarterly adjusted earnings of 63 cents per share, beating the analyst consensus estimate of 40 cents by 57.5% and representing a 50% increase over earnings of 42 cents per share year-over-year.

The company reported quarterly sales of $318.5 million, which beat the analyst consensus estimate of $298.14 million by 6.83% and is a 22.5% increase over sales of $260.01 million from the same period last year.

Bill reported core revenue, consisting of subscription and transaction fees, was $275 million, an increase of 19% year-over-year. Subscription fees were $63.3 million, up 3% year-over-year, and transaction fees were $211.6 million, up 25% year-over-year.

"We delivered strong growth during the quarter as we automated financial operations for more than 470,000 businesses," said René Lacerte, Bill CEO.

"We continue to drive innovation and sharpen our focus on the most impactful initiatives to create value for our customers, partners, and shareholders. With our powerful platform, expanding ecosystem, and increasing scale, we are uniquely positioned to be the essential financial operations platform for millions of SMBs," Lacerte continued.

Bill raised its fiscal year 2024 total revenue outlook from $1.205 billion and $1.245 billion to $1.226 billion and $1.251 billion. Bill raised its adjusted earnings per share guidance from $1.64 and $1.97 to $2.09 and $2.31.

Related News: Expedia Reports Better-Than-Expected Q4 Results, Appoints New CEO

BILL Price Action: According to Benzinga Pro, Bill Holdings shares are trading down 2.89% after-hours at $73.57 at the time of publication.

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