5.9k Share this

Twilio Inc.’s stock wildly fluctuated in frenzied trading Wednesday after the company issued cautious revenue guidance on better-than-expected results.

Shares of Twilio TWLO, +5.50% initially plunged 18% before climbing 9% in extended trading Wednesday after the customer-engagement technology company reported fiscal first-quarter revenue and earnings that surpassed Wall Street analysts’ forecasts.

“We carried our momentum into 2022 and delivered another strong quarter to start the year, with first-quarter revenue coming in at $875 million, representing 48% year-over-year growth,” Twilio Chief Executive Jeff Lawson said in a statement.

Twilio announced a net loss of $221.6 million, or $1.23 a share, compared with a net loss of $206.5 million, or $1.24 a share, in the year-ago quarter. Adjusted earnings were break-even, at 0 cents a share.

Revenue jumped 48% to $875.4 million from $589.9 million a year ago.

Analysts surveyed by FactSet had expected a net loss of 21 cents a share on revenue of $864 million.

Investors were initially spooked, however, when Twilio offered second-quarter revenue guidance of between $912 million and $922 million, at the low end of FactSet estimates of $921 million. What might have also concerned investors: The company reported 268,000 active customer accounts as of March 31, compared to 235,000 a year ago.

Twilio’s stock has plummeted 55% this year, while the broader S&P 500 index SPX, +2.99% has declined 12%. The San Francisco-based company is among a group of tech companies whose stock skyrocketed during the pandemic only to come plunging back to earth this year.

Source: This post first appeared on http://marketwatch.com/

5.9k Share this
You May Also Like

Don’t Take Your Freedom For Granted

Out from Shanghai: Automobility CEO Bill Russo returned home to Reno, Nevada…

Warren Buffett’s $51 Billion Stock Market Shopping Spree: Here’s What He’s Buying

Topline Billionaire investor Warren Buffett has used the ongoing market selloff as…

BNB Chain offers another lifeline to Terra ecosystem projects

Binance will welcome migration and offer support to projects from the Terra…

Make Your Work Environment Safer for Failure

Opinions expressed by Entrepreneur contributors are their own. Most startups – most…

U.S. Reopens Embassy In Kyiv After Months-Long Closure

Topline The United States on Wednesday reopened its embassy to Kyiv, according…

Google Subsidiary in Russia to File for Bankruptcy

The Russian subsidiary of Alphabet Google plans to file for bankruptcy, saying…

Lifeline for Terra projects, proposed Terra hard fork and more

The past week in the decentralized finance (DeFi) ecosystem was dominated by…

Exploiting sports fans through NFTs won’t lead to a W

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers…