Twilio surges after earnings beat

FAN Editor

Twilio shares jumped 16 percent in extended trading on Monday after the cloud software company reported better-than-expected second quarter results.

Here are the key numbers:

  • Earnings: 3 cents per share, excluding certain items, vs. loss of 5 cents per share as expected by analysts, according to Thomson Reuters.
  • Revenue: $147.8 million, vs. $131.1 million as expected by analysts, according to Thomson Reuters.

One quarter ago, Twilio had said it was expecting a loss of 5-6 cents per share, excluding certain items, for the second quarter.

Twilio’s guidance for the third quarter also beat estimates. The company said it expects earnings per share of 2 cents to 3 cents, excluding certain items, on revenue of $150 million to 152 million. Analysts had expected Twilio to break even in terms of earnings on $135.9 million in revenue in the third quarter, according to Thomson Reuters.

Twilio, whose software lets businesses create secure messaging platforms, competes with companies including Avaya and Cisco.

PiperJaffray started coverage of Twilio on June 25, and Rosenblatt Securities initiated coverage on June 27.

“Twilio’s market expansion from enabling communications for apps economy companies to driving a communications platform revolution for the global business market puts it on track to see strong growth for years to come,” Rosenblatt’s Ryan Koontz wrote in a note at the time.

The company’s stock has more than doubled in the past year. Twilio debuted on the New York Stock Exchange in 2016.

This is breaking news. Please check back for updates.

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