Bill.com (BILL) tops Q1 estimates but shares slip on mixed guidance

Bill.com (NYSE: BILL) reported better-than-expected results for the fiscal Q3 2024 but offered mixed guidance for the following quarter.

The company’s shares slipped 2% in after-hours trading.

The cloud-based software provider topped expectations for earnings per share (EPS), reporting $0.60 compared to the analyst predictions of $0.53. Revenue stood at $323 million, beating the consensus estimate of $305.92 million.

Looking ahead, Bill.com anticipates Q4 2024 EPS to range between $0.41 and $0.49, which is below the consensus estimate of $0.54.

However, for revenue, Bill.com projects a range of $320 million to $330 million, exceeding the expected $314.7 million.

“We delivered strong profitable growth for the quarter, continued our rapid pace of innovation, and executed with persistent rigor and effectiveness,” said René Lacerte, founder and CEO of Bill.com

“During the quarter, more than 450,000 small businesses used our solutions to automate their financial operations, empowering them with more time to focus on their mission and thrive.”

By Vahid Karaahmetovic

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