What's Going On With Twilio Stock Monday?

Twilio Inc TWLO shares are trading higher. The company on Monday announced a CEO transition and provided updated guidance.

What Happened: Twilio co-founder and CEO Jeff Lawson announced he will step down from his role as CEO and as a member of the board, effective immediately. Khozema Shipchandler, former president of Twilio communications, has been appointed CEO and a member of the board. Jeff Epstein was also appointed as Chair of the Twilio board.

"Building Twilio over the past 15 years has been one of the most rewarding experiences of my life," Lawson said.

"We launched Twilio in 2008 with a to-do list written on the back of a pizza box and 15 years later, Twilio's platform handles over 1.7 trillion interactions a year on behalf of more than 306,000 customers across the globe."

Twilio also announced that it expects to exceed its prior forecast for the fourth quarter and full-year 2023. The company expects revenue and non-GAAP income from operations to be above the top-end of the guidance ranges it originally provided in November.

Twilio is set to report its fourth-quarter financial results on Feb. 14. The company is currently expected to report earnings of 57 cents per share on revenue of $1.039 billion, according to estimates from Benzinga Pro.

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TWLO Price Action: Twilio shares were up 7.42% at $74.16 at the time of publication, according to Benzinga Pro.

Photo: Web Summit from Flickr.