After surging more than 4.6% during regular trading hours on Monday, shares of Twilio (TWLO - Free Report) gained another 12% in after-hours following the release of its second-quarter financial report, which saw the cloud communications app maker surpass expectations on the top and bottom line.
Twilio reported total revenue of $95.9 million, which marked a 49% year-over-year improvement and beat our consensus estimate of $86 million. The company posted a non-GAAP loss of 5 cents per share, beating Street estimates that called for a loss of 11 cents. Adjusting for some costs, Twilio reported a loss of 20 cents per share, matching the Zacks Consensus Estimate for earnings this quarter.
“I’m extremely proud of what our team was able to deliver at our SIGNAL Conference in Q2. We announced 42 new products around SIGNAL - from speech recognition and our new machine learning-powered Understand product, to the launch of an entirely new layer of software - the Twilio Engagement Cloud,” said Twilio CEO Jeff Lawson. “Once again this quarter, we saw a large number of companies across a variety of industries place their trust in our platform.”
Twilio added nearly 13,000 customer accounts since the year-ago quarter, bringing its total number of customer accounts to 43,431.
Looking ahead, Twilio expects third-quarter revenues in the range of $91 million to $93 million. This is comfortably above our current consensus estimate, which calls for revenue to come in at $89 million. Twilio’s new guidance would represent year-over-year sales growth of 27% - 30%.
Based in San Francisco, Twilio is a platform-as-a-service cloud computing firm that enables developers to build, scale and operate real-time communications within software applications. The company accrued a private valuation of more than $1 billion and raised roughly $150 million during its IPO last summer.
TWLO is currently a Zacks Rank #1 (Strong Buy) and sports an “A” grade for Growth in our Style Scores system.
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