Twilio TWLO is trading significantly lower Thursday after the company announced its third-quarter financial results and issued guidance below estimates.
Twilio reported quarterly adjusted earnings of 1 cent per share, which beat the estimate for a loss of 14 cents per share. The company reported quarterly revenue of $740.2 million, which beat the estimate of $680.52 million.
Twilio expects a fourth-quarter adjusted earnings loss in a range of 26 cents to 23 cents versus the estimate for a loss of 7 cents per share. The company expects quarterly revenue to be in a range of $760 million to $770 million versus the estimate of $744.7 million.
“We are extremely excited about the next generation of our customer engagement platform, and our newest pillar, Twilio Engage, which will allow companies of all sizes and in any industry to build and optimize hyper-personalized marketing campaigns on every channel for customer acquisition, conversion and retention," said Jeff Lawson, co-founder and CEO of Twilio.
See Also: Twilio's Return On Capital Employed Overview
Needham analyst Ryan Koontz maintained Twilio with a Buy rating and lowered the price target from $460 to $400.
TWLO Price Action: Twilio has traded as high as $457.30 and as low as $254.82 over a 52-week period.
The stock was down 15.10% at $293.63 at time of publication.
Photo: courtesy of Twilio.
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