Twilio, Inc. (NYSE: TWLO)
Twilio released its second quarter earnings report on Monday and held a conference call at 2 p.m. where it discussed the financial results.
The California-based cloud software company, managed to attain profitability and finish above Wall Street expectations during the quarter.
Speaking during the earnings conference, Lee Kirkpatrick, the Chief Financial Officer of Twilio, attributed the solid performance to strong revenues as a result of higher client spending during the quarter.
The company also revised its third-quarter guidance upward, which was also ahead of analyst expectations.
TWLO stock was trading at $77.03 at $11.25 p.m. after climbing $13.73, or 21.69% on Tuesday. The shares have gained nearly 168% since the beginning of the year.
TWLO Earnings & Outlook
The firm posted second-quarter a net loss of $24 million, or 25 cents per share, compared with a net loss of $7.1 million, or $0.08 per share, in the same period last year.
Excluding special items such as stock-based compensation, the company earned 3 cents per share, surpassing estimates of 6 cents per share, and ahead of a loss of 5 cents per share in last year’s second quarter.
Analysts believe that Twilio is still capable of reporting a profit a few years from now. Total sales came in at $147.8 million ahead of expectations of $130.4 million.
In the same quarter a year ago, the company had sales of $95.9 million.
Looking ahead, Twilio hopes to report third-quarter adjusted earnings in the range of 2 and 3 cents per share on sales of between $150 million and $152 million.
Thompson Reuters, based on analyst predictions, expect the company to post adjusted losses of 0 cents a share and revenues of $134.8 million.
Twilio CEO Comments
“Our core voice and messaging products grew rapidly once again, and the positive customer response to Flex further reinforces our Engagement Cloud strategy. Our go-to-market investments are driving growth in companies of all shapes and sizes, and we’re excited to unveil our newest set of innovations and gather our customers at our upcoming SIGNAL conference in October,” said Jeff Lawson, Co-Founder and Chief Executive Officer of Twilio.
Twilio, Inc. Company Profile
Twilio Inc. is engaged in the provision of a cloud communications platform that allows developers to create, operate, and scale communications within software applications in the US and other parts of the world.
The programmable communications cloud provided by the company offers programming interface applications that enable developers to embed video, voice, and messaging capabilities into their applications.
Its most notable corporate customers include Twitter, Inc., Coca-Cola Company, Uber Technologies, Inc., EBay, Inc., and Airbnb Inc. Twilio competes with Cisco and Avaya.
Shares of Twilio started trading on the New York Stock Exchange on June 23, 2016. The company was founded in 2008 by Evan Cooke, John Wolthuis, and Jeffery G. Lawson.
Its headquarters are based in San Francisco, California. –Reuters