Twilio Inc (NYSE:TWLO) shares are trading higher Thursday after the company reported better-than-expected financial results.
What Happened: Twilio reported third-quarter revenue of $1.03 billion, which beat the consensus estimate of $989.28 million, according to Benzinga Pro. The company’s top-line results were up 5% on a year-over-year basis.
Twilio reported third-quarter earnings of 58 cents per share, which beat analyst estimates of 35 cents per share.
The company said it had more than 306,000 active customer accounts as of Sept. 30, up from around 280,000 year-over-year.
Twilio noted that it has repurchased $620 million in stock from its $1 billion buyback announced in February.
“Twilio had a strong third quarter, delivering another record quarter of non-GAAP income from operations and free cash flow,” said Jeff Lawson, co-founder and CEO of Twilio.
“We are building a foundation for profitable growth that enables us to invest in our CustomerAI vision to deliver even more compelling outcomes for our customers and our shareholders in the long-term.”
Twilio expects fourth-quarter revenue to be between $1.03 billion and $1.04 billion. The company sees fourth-quarter adjusted earnings of 53 cents to 57 cents per share.
Following the print, Needham analyst Ryan Koontz maintained Twilio with a Buy rating and lowered the price target from $75 to $70.
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TWLO Price Action: Twilio shares were up 5.9% at $59.10 at the time of publication, according to Benzinga Pro.
Photo: Web Summit from Flickr.
