Why Bill.com Surged 26.4% in February
Shares of billing and spend management software company Bill.com Holdings (NYSE: BILL) skyrocketed 26.4% in February, according to data from S&P Global Market Intelligence. The high-growth software company had had a rough few months, as it, too, was a victim of the violent growth stock sell-off that began in November 2021 and carried into January 2022.
However, a massive beat on revenue and adjusted earnings in its February earnings report sent the stock back in the upward direction.
In its fiscal second quarter ended in December, Bill.com reported stunning core revenue growth of 197% over the prior-year quarter. While some of that was due to the acquisition of Divvy last June, organic revenue outside of Divvy soared 85%, which is still awfully impressive. Both total revenue and non-GAAP (adjusted) earnings per share handily beat analyst expectations. In the release, CEO René Lacerte said, "We continued to see strong growth across our business in the second quarter and delivered accelerated revenue growth at a meaningful scale."
Source Fool.com
