: Bill.com stock rallies 10% after earnings, outlook beat

Bill.com Holdings Inc. shares rallied in the extended session Thursday after the business automation software company reported earnings and outlook that both topped Wall Street expectations. Bill.com shares rallied as much as 10% after hours, following a 1.6% gain in the regular session to close at $79.91. The company reported a third-quarter loss of $31.1 million, or 29 cents a share, compared with a loss of $86.7 million, or 84 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 50 cents a share, versus a loss of 8 cents a share in the year-ago period. Revenue rose to $272.6 million from $166.9 million a year ago. Analysts surveyed by FactSet had estimated earnings of 24 cents a share on revenue of $247.1 million, based on the company’s forecast of 22 cents to 25 cents a share on revenue of $245 million to $248 million. Then, Bill.com forecast third-quarter earnings of 39 cents to 41 cents a share on revenue of $277 million to $280 million for the fourth quarter, and hiked its annual guidance to $1.46 to $1.48 a share on revenue of about $1.04 billion. Analysts had estimated 23 cents a share on revenue of $267.8 million for the fourth quarter, and $1.04 a share on revenue of $1 billion for the year. Previously, the company had forecast 99 cents to $1.05 a share on revenue of $999 million to $1.01 billion for the year.

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