Twilio (TWLO) 2021 Q1 Financial Results

Twilio Inc. (NYSE:TWLO), founded in 2008, was one of the first platforms that enabled businesses to program communications over the cloud. Its API allows developers to create secure communications over the cloud while maintaining security. The company went public in 2016 by selling 10 million shares at $15 each piece for total proceeds of $150 million. Twilio stock’s value has climbed more than 750 percent since its IPO (see biggest cloud computing companies).

The San Francisco, California-based cloud communications platform recently announced better-than-expected financial results for the first quarter. Twilio reported adjusted earnings of 5 cents per share for the three months ended March 31, as compared to 6 cents per share in the same period of 2020.

Revenue for the quarter came in at $590 million, translating to a year-over-year surge of 62 percent. Analysts on average were looking for an adjusted loss of 10 cents per share on revenue of $533 million.

Speaking on the results, CEO Jeff Lawson said, “We delivered another quarter of outstanding growth in Q1, as companies across industries and around the world continue to turn to Twilio’s customer engagement platform to drive their digital transformation. Over the last year, one thing has become extremely clear: we are in the midst of a massive shift in the way companies engage with their customers that is driving a generational opportunity for Twilio.”

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Twilio also issued its financial outlook for the second quarter. The company projected adjusted loss in the range of 13 cents per share to 16 cents per share and revenue between $591 million to $601 million for the current quarter. Analysts on average were looking for an adjusted loss of 4 cents per share on revenue of $579 million. The disappointing outlook sent Twilio stock down more than 4 percent on Thursday.