Twilio (NYSE:TWLO) is in the news Friday after boosting its outlook in a recent filing with the U.S. Securities and Exchange Commission (SEC).
According to the cloud communication company’s filing with the SEC, it’s expecting revenue for the third quarter of 2020 to come in above its previous guidance. The company’s prior revenue guidance ranged from $401 million to $406 million.
Twilio doesn’t pin down a range for its new revenue guidance. However, if it beats out the old outlook, then it will most likely come in above Wall Street’s estimate. Analysts are looking for TWLO to report revenue of $407.9 million in Q3.
Twilio doesn’t provide any further guidance updates in the SEC filing. Even so, we know the number it has to beat if it wants to impress investors with its earnings per share. Wall Street’s current estimate is for losses per share of 3 cents. The company reported EPS of 3 cents during the third quarter of 2019.
Twilio also held its Investor Day on Thursday and highlighted its performance over the last few years. That includes seeing a 46% jump in revenue in the second quarter of 2020 compared to its Q2 2019 revenue.
To go along with this news, Twilio notes that companies are speeding up their digital transformations. The company contributes this to the effects of the novel coronavirus. The pandemic is forcing many companies to offer work-from-home options to employees.
TWLO stock was up 11.4% as of Friday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
