Twilio Beats Sales, Profit Estimates

The share of Twilio Inc. initially fell 2% in extended trading on Thursday after the company released its second-quarter results.

“Our strong momentum continued into the second quarter as our revenue growth accelerated at a run rate of more than $2.6 billion,” said Twilio Chief Executive Jeff Lawson in a statement announcing the results.

“The digital landscape is more important than ever, and the privacy trends – which are needed – are making the tactics of the past no longer work,” Lawson told MarketWatch after the results were released. “Every company needs to up their digital transformation game during the pandemic.”

Twilio TWLO,
reported a net loss of $227.9 million, or $1.31 per share, versus net income of $99.9 million, or 71 cents per share, in the year-ago quarter. The company reported an adjusted net loss of 11 cents per share.

Revenue shot up 67% to $668.9 million from $400.8 million a year ago.

Analysts polled by FactSet had expected a net loss of 13 cents a share on revenue of $599 million.

Shares of Twilio are up 15.5% so far in 2021. The broader S&P 500 index SPX,
has won 18% this year.