Why Are BILL Holding's Shares Diving Today?
Portfolio Pulse from Lekha Gupta
BILL Holdings Inc's shares have dropped by over 30% after the company reported its Q1 FY24 earnings and cut its FY24 outlook. Despite revenue and core revenue increasing by 33% and 24% respectively, and beating consensus estimates, the company's shares fell. The company also processed more transactions and had a higher total payment volume than the previous year. However, the company's outlook for Q2 and FY24 was lower than estimates, which may have contributed to the share price drop.

November 03, 2023 | 9:43 am
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NEGATIVE IMPACT
BILL Holdings Inc's shares have dropped significantly despite positive Q1 FY24 earnings. The company's lower than expected outlook for Q2 and FY24 may have negatively impacted investor sentiment.
Despite reporting positive Q1 FY24 earnings, BILL Holdings Inc's shares have dropped significantly. This is likely due to the company's lower than expected outlook for Q2 and FY24, which may have negatively impacted investor sentiment and led to a sell-off of the company's shares.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100