Bill.com stock rallies on higher fiscal Q4 sales
Bill.com Holdings Inc. shares jumped more than 10% late Thursday after the software company reported fiscal fourth-quarter sales above expectations even as its losses were wider. Bill.com said it lost $41.9 million, or 48 cents a share, in the quarter, compared with a loss of $9.5 million, or 13 cents a share, in the year-ago quarter. Adjusted for one-time items, the company lost 7 cents a share. Revenue rose 86% to $78.3 million, the company said. FactSet consensus called for a loss of 4 cents a share on sales of $62 million. "Our strategic initiatives drove strong adoption of our platform and set-us up well for future opportunities," founder and Chief Executive Rene Lacerte said in a statement. "We are building the one-stop shop platform for (small and medium businesses) to manage all their financial operations and (business-to-business) spend." The stock ended the regular trading day down 0.2%.
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