SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — BILL Holdings, Inc. (BILL) on Thursday reported fiscal first-quarter net income of $8.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Jose, California-based company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The payment processing software company posted revenue of $358.5 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $348 million.
For the current quarter ending in December, BILL Holdings expects its per-share earnings to range from 44 cents to 48 cents.
The company said it expects revenue in the range of $355.5 million to $360.5 million for the fiscal second quarter.
BILL Holdings expects full-year earnings in the range of $1.65 to $1.83 per share, with revenue ranging from $1.44 billion to $1.46 billion.
BILL Holdings shares have fallen 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $65.90, a climb of slightly more than 4% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BILL at https://www.zacks.com/ap/BILL