Why BILL Holding's Stock Is Trading Lower After-Hours

BILL Holdings, Inc. BILL shares are trading lower in Thursday's after-hours session on the heels of the company's fourth-quarter earnings. Here's what's driving the action.

What To Know: BILL reported quarterly earnings of 59 cents per share which beat the analyst consensus estimate of 41 cents, a 2066.67% increase over losses of three cents per share from the same period last year. 

The company reported quarterly sales of $295.98 million, which beat the analyst consensus estimate of $281.69 million, a 47.83% increase over sales of $200.22 million in the same period last year.

BILL processed $69.1 billion in total payment volume during the quarter, an increase of 9% year-over-year, and served 461,000 businesses using its solutions.

The company also processed 23.4 million transactions during the fourth quarter as well, an increase of 29% year-over-year.

The company issued first-quarter earnings per share outlook of 48 cents and 50 cents, versus the estimate of 41 cents. Revenue is anticipated to be between $295.5 million and $298.5 million, versus the $300.22 million estimate.

Full-year 2024 earnings per share guidance was estimated to be between $1.82 and $1.97 versus the $1.82 estimate. Revenue is expected to be between $1.289 billion and $1.307 billion, versus the $1.3 billion estimate.

"Fiscal 2023 was a defining year for BILL. We exceeded $1 billion in annual revenue, delivered our first year of non-GAAP profitability, and transacted payment volume that accounted for approximately 1% of U.S. GDP," said René Lacerte, BILL CEO and Founder.

"Our solutions are helping more than 460,000 businesses automate their financial operations and gain better visibility and control of their cash flow. With our increasing scale, enhanced platform, and expanding ecosystem, we are uniquely positioned to be the essential financial operations platform for millions of SMBs."

Related Link: Why Keysight Stock Is Trading Lower After-Hours

BILL Price Action: Shares of BILL were down 4.00% at $97.50 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by 3D Animation Production Company from Pixabay