What happened
A funny thing happened on the way to Bill.com Holdings' (NYSE: BILL) fourth-quarter earnings report last night. The cloud-based payments software maker missed earnings, reporting a $0.07-per-share pro forma loss where Wall Street had expected only a $0.04 loss. It also warned of worse-than-expected losses in the fiscal first quarter of 2022 and fiscal 2022 as a whole.
And then Bill.com stock went up -- 21.5% already as of 10 a.m. EDT.