Bill.com tops earnings expectations but stock falls after results

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Bill.com Inc. topped earnings and revenue expectations with its fiscal fourth-quarter results Thursday, though shares of the online-billing company were off more than 3% in after-hours trading. The company reported a net loss of $9.5 million, or 13 cents a share, compared with a loss of $4.5 million, or 56 cents a share, in the year-earlier quarter. On an adjusted basis, Bill.com lost 2 cents a share, compared with its 4-cent per-share loss a year prior. Analysts surveyed by FactSet were projecting an adjusted loss of 11 cents a share. The company’s revenue rose to $42.1 million from $31.7 million a year earlier and exceeded the FactSet consensus, which was looking for $38 million. Chief Executive René Lacerte said in a release that the company had “continued success in strengthening our partnerships with both new and existing financial institutions, accounting software companies and accounting firms.” Shares have rallied 65% over the past three months as the S&P 500 has climbed 15%.
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