Shares of Bill Holdings saw a decline in late trading on Thursday as the company's revenue forecast fell below analyst expectations for the current quarter and fiscal year.

Stock Performance

The stock fell 3.5% in after-hours trading, closing at $98.05. This drop follows a year-to-date decrease of 6.8%.

Revenue Expectations

Bill Holdings, a San Jose-based financial automation software provider, projects revenue between $295.5 million and $298.5 million for the fiscal first quarter ending on Sept. 30. Analysts had anticipated $300 million in revenue.

For the full fiscal year ending on June 30, 2024, the company forecasts revenue between $1.29 billion and nearly $1.31 billion. Analysts had predicted $1.31 billion.

Adjusted Profit Forecast

The adjusted profit forecast, however, surpassed expectations.

For the current quarter, Bill Holdings expects adjusted per-share earnings between 48 cents and 50 cents, exceeding the projected 40 cents by analysts. Similarly, the company's full-year forecast for adjusted per-share earnings is between $1.82 and $1.97, surpassing analyst estimates of $1.81 per share.

Fourth Quarter Performance

This outlook follows Bill Holdings' report of a narrower loss in the fourth quarter, driven by a notable 48% increase in revenue.

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