Twilio Lifts Outlook After Higher 3Q Profit, Revenue

Dow Jones06:56

Twilio lifted its full-year revenue growth outlook after the company reported a higher profit and revenue growth in the third quarter.

The communications-technology company on Thursday said it now expects full-year revenue growth of 20%, up from a previous view of 18% to 18.5% growth. Organic revenue growth is expected to be 15%, compared with a previous range of 13% to 13.5%

Twilio reported a third-quarter profit of $161.2 million, or $1.00 a share, compared with a profit of $37.2 million, or 23 cents a share, a year earlier.

Stripping out certain one-time items, adjusted earnings were $1.65 a share. Analysts polled by FactSet were expecting $1.47 a share.

Revenue grew to $1.56 billion from $1.3 billion. Analysts were expecting $1.52 billion.

Despite the earnings beat, shares fell 17% to $200.50 in after-hours trading on Thursday.

For the current fourth quarter, the company guided for adjusted earnings of between $1.48 and $1.53 a share, on revenue between $1.595 billion and $1.605 billion.

Analysts currently expect adjusted earnings of $1.49 a share on $1.58 billion in revenue.

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