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Why Bill.com Stock Plummeted Today

TheMotleyFool

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Shares of Bill.com Holdings (NYSE: BILL), the payments specialist for small and medium-sized businesses (SMBs), were taking a dive today after the company posted strong results in its fiscal second quarter but offered disappointing guidance for the current period.

As a result, the stock was down 25.6% as of 11:59 a.m. ET.

Bill.com, which is a software-as-a-service company that helps SMBs handle payments and back-office accounting, said core revenue rose 49% in the quarter, and total revenue jumped 66% to $260 million, which beat estimates at $243.5 million. Core revenue was $231.1 million. This excludes "float revenue," which is money the company earns from funds held before it disburses them.

Source Fool.com

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