Twilio's stock soars 7% after earnings beat as company offers upbeat guidance
By Ciara Linnane
Twilio had more than 316,000 active customer accounts as of end of June, up from 304,000 a year ago
Twilio Inc.'s stock rose 6.7% in after-hours trade Thursday, after the company beat earnings estimates for the second quarter and offered upbeat guidance.
The company (TWLO), which makes communications tools for businesses, had a net loss of $31.9 million, or 19 cents a share, for the quarter, narrower than the loss of $166.2 million, or 91 cents a share, posted in the year-earlier period.
Adjusted for one-time items, the company had per-share earnings of 87 cents, ahead of the 70-cent FactSet consensus.
Revenue rose 4% to $1.08 billion, ahead of the $1.06 billion FactSet consensus.
The company had more than 316,000 active customer accounts as of the end of June, compared with more than 304,000 in the year-earlier quarter. Its dollar-based net expansion rate of 102% was down from 103% a year ago.
The latter is a metric that measures how well a company has increased revenue from its existing customer base over time.
Twilio said it was initiating guidance for the third quarter, forecasting revenue of $1.085 billion to $1.095 billion. It expects adjusted EPS to range from 81 cents to 86 cents.
The FactSet consensus is for revenue of $1.094 billion and EPS of 74 cents.
For the full year, it expects organic revenue growth of 6% to 7%.
The stock has fallen 25.8% in the year to date, while the S&P 500 SPX has gained 14%.
-Ciara Linnane
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08-01-24 2033ET
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