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Why Is Bill.com (BILL) Stock Up 16% Today?

  • Bill.com (BILL) stock is jumping thanks to a positive earnings beat.
  • It also has strong guidance for the coming fiscal year.
  • To go along with that, it announced new executive hires today.
The Bill.com logo in front of a building representing BILL stock.

Source: Michael Vi / Shutterstock.com

Bill.com (NYSE:BILL) stock is getting a boost on Friday following the release of its earnings report for its fiscal fourth quarter of 2022.

That report starts with adjusted earnings per share of -3 cents. That’s much better than the -13 cents per share that Wall Street was expecting for the quarter. It’s also an improvement year-over-year from -7 cents per share.

Another highlight for BILL stock comes from its revenue of $200.2 million. That surpasses the $183.1 million in revenue that analysts were looking for during the period. It’s also a 156% increase from its fiscal fourth quarter of 2021.

Bill.com also provides a strong outlook for its fiscal first quarter of 2023 in its earnings report. It’s expecting adjusted EPS ranging from 5 cents to 7 cents on revenue of $208 million to $211 million. For comparison, Wall Street is estimating an adjusted EPS of -9 cents on revenue of $187.6 million.

And that strong guidance continues for the full year of fiscal 2023. The company expects adjusted EPS between 23 cents and 38 cents on revenue of $955.5 million to $973.5 million. Analysts’ estimates include adjusted EPS of -24 cents on revenue of $879.68 million.

In addition to that earnings news, Bill.com also announced new members of its executive team. This sees Irana Wasti joining the company as its new CPO and Sofya Pogreb joining as the new COO. Both of them will report directly to founder and CEO René Lacerte.

BILL stock is up 16.2% as of Friday morning.

There’s more hot stock news worth checking out below!

We’ve got all of the biggest stock stories traders need to know about for Friday! A few examples include what’s happening with shares of GigaCloud Technology (NASDAQ:GCT), Volcon (NASDAQ:VLCN), and Bed Bath & Beyond (NASDAQ:BBBY) stock. You can catch up on that at the following links!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/08/why-is-bill-com-bill-stock-up-16-today/.

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