TWLO stock is soaring late in the day Tuesday as Twilio earnings were released for the company’s latest quarter, which were much stronger than what analysts were calling for in their consensus estimate.
Here’s what you should know about the company’s latest period:
- The cloud communications platform, which is based out of San Francisco, reported its results for its third quarter of fiscal 2018.
- Twilio said that for the period, it posted a net loss of $27.1 million.
- On an adjusted basis, the company brought in a profit of 7 cents per share, easily surpassing its adjusted loss of 8 cents per share from the year-ago quarter.
- The figure was well above what analysts were calling for as the Wall Street consensus estimate projected adjusted earnings of 3 cents per share, according to data compiled in a FactSet survey.
- Twilio added that it raked in revenue of $168.9 million for its third quarter, handily topping its revenue of $100.5 million from the year-ago quarter.
- Analysts were calling for the cloud services provider to bring in revenue of $151.6 million, according to data compiled by FactSet.
- Twilio had predicted adjusted profit of 2 cents to 3 cents per share and revenue in the range of $150 million to $152 million for the period.
The company’s stock had been declining about 1% during regular trading hours by day’s end as the company geared up to report its latest quarterly results, which destroyed everyone’s expectations.
