BILL Seeks to Continue Strong Revenue Growth in Q2 Earnings Report
Financial automation platform BILL (NYSE:BILL) will release its Q2 earnings report on Wednesday after market close. The company's revenue growth is expected to reach 12.3% year-over-year, which is in line with last year's same quarter increase of 11.5%. Analysts have generally reconfirmed their estimates over the past month, suggesting they anticipate BILL will continue its strong performance.
BILL has a history of exceeding Wall Street's expectations. In its previous quarter, the company reported revenues of $406.6 million, up 13.5% year-over-year. This exceeded analyst estimates and provided a solid beat for adjusted operating income.
Looking at BILL's peers in the finance and HR software segment, some have already released their Q2 results. Paycom delivered year-on-year revenue growth of 9.8%, beating analysts' expectations by 3.5%. However, American Express Global Business Travel reported revenues up 37.9%, but its stock price remained unchanged.
There has been positive sentiment among investors in the finance and HR software segment, with share prices up 11.3% on average over the last month. BILL is up 7.1% during the same time period and is heading into earnings with an average analyst price target of $54.57, compared to its current share price of $48.39.