Twilio Inc (NYSE:TWLO) shares are trading lower in Tuesday’s after-hours session after the customer engagement platform company reported first-quarter results and issued lukewarm top-line guidance.
What Happened: Twilio said first-quarter revenue increased 15% year-over-year to $1.1 billion, which beat consensus estimates of $1 billion, according to Benzinga Pro. The company reported quarterly earnings of 47 cents per share, which beat estimates of 21 cents per share.
Twilio said it had more than 300,000 active customer accounts as of March 31, up from 268,000 year-over-year.
The company announced a $1 billion buyback in February. Twilio said it has already completed approximately 25% of the buyback.
“The operational and organizational changes we initiated in the first quarter are beginning to yield results — enabling our teams to execute with focus and the company to deliver an accelerated path to meaningful profitability,” said Jeff Lawson, co-founder and CEO of Twilio.
Twilio expects second-quarter revenue to be in the range of $980 million to $990 million versus estimates of $1.05 billion. The company expects second-quarter earnings to be between 27 cents and 31 cents per share versus estimates of 29 cents per share.
Management will hold a conference call to discuss these results at 5 p.m. ET.
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TWLO Price Action: Twilio has a 52-week range of $41-$115.24.
The stock was down 15.2% after hours at $47.50 at the time of publication, according to Benzinga Pro.
Photo: Jernej Furman from Flickr.
