Shares of BILL (NYSE: BILL) surged by more than 12% in pre-market trading at the time of publishing on Friday after the financial automation software company announced adjusted earnings of $0.50 per diluted share in the fiscal third quarter versus a loss of $0.08 per share in the same period last year and exceeding consensus estimates of $0.29 per share.
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The company’s revenues soared by 63% year-over-year in fiscal Q3 to $272.6 million but fell short of analysts’ expectations of $273.19 million.
Looking forward, the management has guided for revenues between $277 and $280 million in Q4 while adjusted earnings are expected to be in the range of $0.39 to $0.41 per share. In FY23, BILL has projected revenues to be in the range of $1.04 billion to $1.043 billion while earnings are anticipated to be between $1.46 and $1.48 per share.
Analysts are bullish about BILL stock with a Strong Buy consensus rating based on 13 Buys and two Holds.
