Bill.com to Acquire Divvy, a Leader in Spend Management for SMBs
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Bill.com (BILL) Rises 15% On Narrower Loss, 'Transformative' Divvy Acquisition
May 7, 2021 11:39 AM EDTShares of Bill.com (NYSE: BILL) are up 13.6% in todays trading session after the company reported a narrower loss for its fiscal third quarter, as well as announced the acquisition of Divvy for $2.5 billion which analysts said "appears transformative."
BILL posted a $26.7 million loss in the quarter or $0.02 on an adjusted basis to top the $0.07 expected from analysts. Business sales for the quarter were reported at $59.7 million, which marks a 45% jump year-over-year, and again higher than the $54.6 million consensus.
For its fiscal Q4, the company sees revenue between $60.9... More
