’s stock soars 17% on strong results, revenue guidance

18 Holdings Inc.’s. stock BILL, -1.31% initially soared 17% in extended trading Thursday after the maker of cloud-based software reported fiscal fourth-quarter results that topped Wall Street analysts’ forecasts and offered strong revenue guidance for the current quarter. reported a loss of $84.9 million, or 81 cents a share, compared with a loss of $41.9 million, or 48 cents a share, in the year-ago quarter. Adjusted earnings were a loss of 3 cents a share. Revenue increased 156% to $200.2 million from $78.3 million a year ago. Analysts surveyed by FactSet had expected on average a loss of 14 cents a share on revenue of $183.2 million. said it expects between $208 million and $211 million in first-quarter revenue, far above the $187.3 million projected by analysts polled by FactSet. Shares of have cratered 40% this year, while the broader S&P 500 index SPX, +0.23% has declined 10%.

This article was originally published by Read the original article here.

Previous article: Rivian eliminates less-expensive version of its electric pickup
Next articleThe U.S.’s baby-formula shortage has eased — but not in every state


Please enter your comment!
Please enter your name here