TWLO - Why Twilio Stock Dropped Today
2024-02-15 17:21:18 ET
Shares of Twilio (NYSE: TWLO) fell 15.4% on Thursday despite stronger-than-expected quarterly results from the communication software tools provider. It seems the market is focused on Twilio's light forward guidance.
For its fourth quarter of 2023, Twilio saw revenue climb 5% year over year to $1.08 billion, while its adjusted ( non-GAAP ) net income nearly quadrupled over the same period to $0.86 per share. By comparison, most Wall Street analysts were modeling earnings of only $0.58 per share on revenue closer to $1.04 billion.
Twilio CEO Khozema Shipchandler called it a "terrific" quarter, noting the company continues to make strides toward GAAP profitability. Indeed, based on generally accepted accounting principles -- which includes items like stock-based compensation -- Twilio's full-year 2023 net loss narrowed to $5.54 per share from $6.86 per share in 2022.
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Why Twilio Stock Dropped Today