Jeff Lawson, CEO, Twilio
Scott Mill | CNBC
Twilio shares closed up 34% on Friday, a day after the cloud communications software maker reported third-quarter results that gave a soft earnings outlook.
Here’s how the company did it:
- loss: Adjusted loss of 27 cents per share compared with a loss of 36 cents per share as expected by analysts, according to Refinitiv.
- Income: $983 million, versus $972.2 million as expected by analysts, according to Refinitiv.
On guidance, Twilio is looking for a fourth-quarter adjusted net loss of 11 cents to 6 cents per share on revenue of $995 million to $1.005 billion. Analysts polled by Refinitiv had expected an adjusted loss of 12 cents a share on revenue of $1.07 billion.
“Like many companies, we are facing some short-term headwinds, but the long-term opportunity remains strong as companies continue to build their customer engagement strategies, become more efficient and aim to build better and more personalized customer relationships.” their,” Jeff. Lawson, Twilio’s co-founder and CEO, was quoted as saying in a statement.
The company’s revenue rose 33% year over year, according to the statement, compared with 41% growth in the second quarter. Twilio said it had over 280,000 active customer accounts at the end of the third quarter, up from over 275,000 at the end of the second quarter.
Shares of Twilio are down about 83% so far this year, while the S&P 500 is down about 20% over the same period.
Twilio is working to start generating operating income on an adjusted basis in 2023. In September, the company announced it was cutting 11% of its workforce. More than 800 will leave the company in the fourth quarter, Twilio said Thursday.
WATCH: We’re on track for profitability in 2023, says Twilio CEO