Strong Q3 Earnings Propel BILL Holdings (BILL): Revenue Surges Year-over-Year

• BILL Holdings reports Q3 earnings of 60 cents per share, surpassing Zacks Consensus Estimate by 13.21% and marking a 46.3% YoY increase.
• Revenues of $323 million, an 18.5% YoY increase, beat the consensus mark by 5.83%, driven by a 17% YoY growth in core revenues.
• Total payment volume (TPV) processed in the quarter was $71.4 billion, a 10.4% YoY increase, including $66.8 billion of TPV on the BILL standalone platform.

BILL Holdings outperforms estimates in Q3 fiscal 2024, with a 46.3% YoY increase in earnings and an 18.5% YoY increase in revenues, driven by growth in core revenues and TPV.

Impressive Q3 Performance

BILL Holdings reported an impressive Q3 performance, with earnings of 60 cents per share, beating the Zacks Consensus Estimate by 13.21% and marking a 46.3% YoY increase. Revenues of $323 million surpassed the consensus mark by 5.83%, driven by a 17% YoY growth in core revenues. The company processed $71.4 billion in total payment volume (TPV) in the reported quarter, up 10.4% YoY. This included $66.8 billion of TPV on its BILL standalone platform, a 9.5% YoY increase.

Customer Base and Revenue Details

BILL’s solutions served 464,900 businesses at the end of the fiscal third quarter. BILL Standalone customers increased 6.5% YoY to 210,700. Excluding financial institutions, BILL Standalone customers increased 9.4% YoY to 146,700. Financial institution customers inched up 0.5% YoY to 64,000. Spend & Expense customer base increased 23.6% YoY to 3... Read the full article for FREE at COINOTAG!