What's Going On With Twilio Stock Today?

Twilio Inc TWLO shares are up more than 6% on Thursday alongside several stocks in the broader software space in the wake of strong earnings from Meta Platforms Inc META, which has driven a rotation into tech and growth names.

What To Know: Meta reported fourth-quarter revenue of $32.17 billion, which beat average analyst estimates of $31.53 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.76 per share, which missed estimates of $2.22 per share. 

Meta said it ended the fourth quarter with 2.96 billion daily active people across its family of products, representing an increase of 5% year-over-year.

The company also updated its outlook and increased its buyback authorization by $40 billion. 

Related Link: 'The Year Of The Efficient Rabbit': Why Analysts Are Raising Their Price Targets On Meta Platforms (Including One Doubling The PT)

Why It Matters: Several stocks like Twilio are moving higher alongside Meta. The social media giant's fourth-quarter ad impressions were up 23% year-over-year. Several companies turn to Twilio's customer engagement platform to build direct, personalized relationships with their customers.

With ad impressions and overall engagement delivering an upside surprise, investors are becoming more optimistic that the consumer remains strong. 

Twilio is scheduled to report its fourth-quarter results on Feb. 15. The company is expected to report a net loss of 9 cents per share on quarterly revenue of $1 billion, according to estimates from Benzinga Pro.

TWLO Price Action: Despite rising 35% over the last month, Twilio shares are still down more than 63% over a one-year period.

The stock was up 6.33% at $66.23 Thursday afternoon, according to Benzinga Pro.

Photo: Web Summit from Flickr.