AvidXchange Holdings, Inc. (AVDX Quick QuoteAVDX - Free Report) reported $105.6 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 21.6%. EPS of $0.06 for the same period compares to -$0.02 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $101.33 million, representing a surprise of +4.21%. The company delivered an EPS surprise of +100.00%, with the consensus EPS estimate being $0.03.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how AvidXchange performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Transaction Yield: $5.47 versus the three-analyst average estimate of $5.23.
• Transactions Processed: 19,300 thousand versus 19,411.05 thousand estimated by three analysts on average.
• Total Payment Volume: $19.90 billion versus $19.52 billion estimated by three analysts on average.

View all Key Company Metrics for AvidXchange here>>>

Shares of AvidXchange have returned -2.6% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.