Twilio (NYSE:TWLO) earnings for the first quarter of 2020 have TWLO stock heading higher on Thursday. That’s thanks to its earnings per share (EPS) of 6 cents beating Wall Street’s estimate of a per-share loss of 11 cents. Also, the company’s revenue of $364.87 million does come in above analysts’ estimates of $331.88 million.
Additionally, the company reported a GAAP losses of 68 cents for the period.
Now, let’s take a closer look at the most recent Twilio earnings report.
- Per-share earnings for the quarter are up 20% from 5 cents during the same time last year.
- Revenue is sitting 56.5% higher than the $233.14 million from the first quarter of 2019.
- Operating loss of $92.7 million is 5.8% worse year-over-year than $87.59 million.
- The Twilio earnings report also has it bringing in a net loss of $94.79 million.
- That’s a 159.7% decrease compared to losses of $36.5 million from the same period of the year prior.
Jeff Lawson, co-founder and CEO of Twilio, said this about the TWLO stock earnings:
“We delivered strong first quarter revenue growth of 57% year-over-year, as customers across industries turned to Twilio’s customer engagement platform to accelerate their digital transformation efforts. Our platform provides three things the world needs right now: digital engagement, software agility and cloud scale.”
The company has pulled its fiscal 2020 guidance due to concerns over the novel coronavirus. However, they do include their Q2 outlook. This calls for per-share losses between 11 and 8 cents on revenue between $365 million-$370 million. Meanwhile, Wall Street’s estimates the period include loss of 13 cents on revenue of $337.77 million
TWLO stock was up 39.4% as of Thursday afternoon.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.
