stock is trading lower late Wednesday after the cloud-communications platform company posted stronger-than-expected first-quarter results, but projected a June quarter loss that would be wider than the Street has been expecting.
Twilio (ticker: TWLO) stock in late trading is down 4.2% to $321.50.
For the quarter, Twilio reported revenue of $590 million, ahead of the Street consensus at $532.9 million, and up 62% from a year earlier. The results for the quarter include $44.6 million from recently acquired Segment, a customer-data-software company. On a non-GAAP basis, the company earned 5 cents a share, while the Street had been anticipating a loss of 9 cents a share. Under generally accepted accounting principles, the company lost $197.3 million or $1.24 a share.
For the June quarter, Twilio sees revenue of between $591 million and $601 million, up between 47% and 50%, and well ahead of the Street consensus at $577.1 million, However, the company is projecting a loss for the quarter of between 13 cents and 16 cents a share, wider than the Street consensus forecast for a loss of 5 cents.
“We delivered another quarter of outstanding growth in Q1, as companies across industries and around the world continue to turn to Twilio’s customer-engagement platform to drive their digital transformation,” CEO
said in a statement. “Over the last year, one thing has become extremely clear: we are in the midst of a massive shift in the way companies engage with their customers that is driving a generational opportunity for Twilio.”
Write to Eric J. Savitz at firstname.lastname@example.org