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Frontier Acquisition Corp. is a blank check company. The Company is formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. The Company focuses on biotechnology sector. The Company has no operations and has not generated revenues.

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Twilio stock declines as weak outlook follows a quarterly beat

7:54 am ET August 5, 2022 (MarketWatch)

By Wallace Witkowski

Top end of Twilio's forecast revenue range is $975 million, while the Street consensus is $978.8 million

Twilio Inc. shares fell in the extended session Thursday after the software company's outlook came in below Wall Street expectations following a reported beat in the previous quarter.

Twilio (TWLO) reported a second-quarter loss of $322.8 million, or $1.77 a share, compared with $227.9 million, or $1.31 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 11 cents a share, compared with 11 cents a share in the year-ago period.

Revenue rose to $943.4 million from $668.9 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 19 cents a share on revenue of $921.6 million, based on Twilio's forecast of a loss of 23 cents to 20 cents a share on revenue of $912 million to $922 million.

Shares declined 7% after hours, however, as the company's outlook fell below Wall Street estimates. Twilio shares finished the regular session up 0.5% at $98.19.

"Based on our results and what we're currently seeing, we remain confident in our growth trajectory as our customers continue to turn to Twilio's Customer Engagement Platform to help build direct relationships with their customers," said Jeff Lawson, Twilio's co-founder and chief executive, in a statement. "We are closely following the macroeconomic environment and are taking proactive steps that will enable us to remain laser-focused on our customers and executing against our top priorities."

Twilio forecast a loss of 43 cents to 37 cents a share on revenue of $965 million to $975 million for the third quarter.

Analysts had estimated a loss of 10 cents a share on revenue of $978.8 million for the third quarter, and a loss of 36 cents a share on revenue of $3.86 billion for the year.

For the year, Twilio shares are down 63%, compared with a 13% fall in the S&P 500 index , and a 19% drop in the tech-heavy Nasdaq Composite Index .

-Wallace Witkowski


(END) Dow Jones Newswires

August 05, 2022 07:54 ET (11:54 GMT)

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