Why Bill.com Stock Soared Today

Shares of Bill.com (NYSE: BILL) have soared today, up by 16% as of 2:15 p.m. EDT, after the company reported fiscal third-quarter earnings. The results beat Wall Street's forecasts.

Revenue in the fiscal third quarter jumped 46% to $41.2 million, topping the consensus estimate of $36.8 million. On an adjusted basis, net loss was $2.9 million, or $0.04 per share. Analysts were expecting Bill.com to post an adjusted net loss per share of $0.10. Total payment volume on the cloud-based software company's platform jumped 35% to $24.2 billion, and customers grew 28% to 91,000.

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Source Fool.com