Twilio skyrockets as quarterly results fly past estimates

Twilio shares were up as much as 25% in extended trading on Wednesday after the company reported first-quarter results and quarterly guidance that surpassed analysts’ estimates. The company’s shares exceeded the $149.95 record close from July 2019.

The company reported:

Revenue grew 57% on an annualized basis, down from 62% growth in the prior quarter.

Analysts surveyed by Refinitiv had expected a loss of 11 cents per share on an adjusted basis and $331.25 million in revenue. However, comparisons are not straightforward given the unpredictable effect of the coronavirus pandemic and lockdowns.