Earnings Results: Twilio stock declines as weak outlook follows a quarterly beat

by | Aug 4, 2022 | Stock Market

Twilio Inc. shares fell in the extended session Thursday after the software company’s outlook came in below Wall Street expectations following a reported beat in the previous quarter. Twilio
reported a second-quarter loss of $322.8 million, or $1.77 a share, compared with $227.9 million, or $1.31 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 11 cents a share, compared with 11 cents a share in the year-ago period.

Revenue rose to $943.4 million from $668.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 19 cents a share on revenue of $921.6 million, based on Twilio’s forecast of a loss of 23 cents to 20 cents a share on revenue of $912 million to $922 million. Shares declined 7% after hours, however, as the company’s outlook fell below Wall Street estimates. Twilio shares finished the regular session up 0.5% at $98.19. “Based on our results and what we’re currently seeing, we remain confident in our growth trajectory as our customers continue to turn to Twilio’s Customer Engagement Platform to help build direct relationships with their customers,” said Jeff Lawson, Twilio’s co-founder and chief executive, in a statement. “We are closely following the macroeconomic environment and are taking proactive steps that will enable us to remain laser-focused on our customers and executing against our top priorities.” Twilio …

Article Attribution | Read More at Article Source

Share This