Following a call with investors, Twilio stock rose nearly 25 percent. This is because the CPaaS leader reported its first-quarter results along with quarterly guidance - both soared beyond what analysts had anticipated. Here's what the company reported, adjusted earnings of six cents per share, and revenue of $364.9 million.
Jeff Lawson, CEO, Twilio, said revenue grew 57 percent year-over-year, down from 62 percent growth in the previous quarter. Twilio said it had over 190,000 active customers as of March 31, 2020. Analysts at FactSet had predicted 185,595. Analysts at Refinitiv anticipated losses of 11 cents per share (adjusted) along with $331.25 million in revenue.
Lawson, looking ahead to Q2 of 2020, said there are some losses in the company's future, to the tune of 11-to-8 cents per share (adjusted), with $365 million to $370 million in revenue. Analysts at Refinitiv predict adjusted loss of 13 cents per share on $336.9 million in revenue.
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Jeff Lawson[/caption]
Lawson said on the call, Twilio was built for moments like the COVID-19 period and acknowledged the company's experienced declines. The ride-sharing market is likely the primary cause of the decline. Brands Lyft and Uber leverage Twilio technology, and both have experienced steep losses due to the pandemic. Where Twilio's seen its biggest gains - Telehealth and contact center agents who now work from home.
The CPaaS leader recently partnered with 'Epic,' one of the largest electronic health record companies in the United States to power a new telehealth solution. The company said the new offering leverages Twilio Programmable Video to enable remote doctor-patient meetings. Twilio and Epic’s embedded solution also lets healthcare providers manage, review relevant patient information, and update clinical documents. A bit closer to home, and across the pond for those in North America, Twilio partnered with Nye Health.
