Twilio beats Q2 revenue targets
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Cloud-based communications provider Twilio reported better-than-expected second quarter financial results Monday. The company delivered a Q2 net loss of $7.2 million, or 8 cents per share.
Twilio's non-GAAP earnings clocked in at a loss of 5 cents a share on revenue of $95.9 million, up 49 percent year over year. Wall Street was bracing for a loss of 11 cents a share on revenue of $86.2 million.
Twilio's share price was up as much as 12 percent in after hours trading.
"Once again this quarter, we saw a large number of companies across a variety of industries place their trust in our platform," said Twilio CEO Jeff Lawson. Twilio says it now has 43,431 active customer accounts, up from 40,696 last quarter.
Looking to the current quarter, analysts are expecting a loss of 8 cents a share on revenue of $89.7 million. Twilio responded with revenue expectations between $91 million to $93 million with an adjusted earnings loss per share of 8 cents to 7 cents.
Twilio lowered its 2017 outlook in early May because of a potential shift in the way Uber, one of its largest clients, would source its communications services. The revised guidance spurred a sharp sell-off in Twilio's stock, but this latest report suggests the cloud-based communications provider has overcome the issue with Uber.
On a call with analysts, Lawson touted a few other success for the quarter, including the launch of Twilio's Engagement Cloud, which is a collection of APIs for building multichannel communications.
"Part of our core strategy is to provide a broad platform with lower-level building blocks and watch how our customers use them," Lawson said. "As we looked at all the things that our customers build on Twilio, nearly all of it involves some form of customer engagement."