Twilio Inc. (TWLO) shares were initially up 4% in after-hours trading Monday after the developer of communications software reported fiscal third-quarter revenue that blew past Wall Street estimates. Twilio reported ( ) a loss of $116.9 million, or 79 cents a share, compared with a loss of $87.7 million, or 64 cents a share, in the year-ago quarter. Twilio's reported an adjusted loss of 4 cents a share. Revenue vaulted 52% to $447.9 million from $295.1 million a year ago. . Across-the-board strength in business operations, led by gains in vertical markets such as health care and financial services, contributed to the hike in revenue, Twilio Chief Financial Officer Khozema Shipchandler told MarketWatch after the results were announced. Analysts surveyed by FactSet had expected a net loss of 4 cents a share on revenue of $407 million. Twilio shares are up 206% this year as the company continues to benefit from an economy roiled by the coronavirus pandemic. The broader S&P 500 index has improved 5% in 2020.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 26, 2020 16:48 ET (20:48 GMT)
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