Twilio stock rises after earnings beat
Twilio Inc. shares rose roughly 2% in the extended session Tuesday after the software company topped consensus estimates for earnings and revenue. The company reported first-quarter net losses of $36.5 million, or 31 cents a share, compared with losses of $23.7 million, or 25 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation, among other things, earnings were 5 cents a share. Revenue rose to $233.1 million from $129.1 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of a penny a share on revenue of $223.7 million. For the second quarter, analysts model adjusted earnings of 2 cents a share and revenue of $253 million. Twilio said it expects second-quarter earnings of 2 cents to 3 cents a share and total revenue of $262 million to $265 million; Twilio expects full-year earnings of 11 cents to 13 cents a share on total revenue of $1.1 billion to $1.11 billion. Analysts estimate full-year earnings of 10 cents a share and sales of $1.08 billion. Twilio stock has gained 225% in the past year, with the S&P 500 index rising 11%.
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