Twilio's stock gains after cloud-computing company raises guidance for the year

Shares of Twilio Inc. (TWLO) gained more than 6% in the extended session Wednesday after the cloud-computing company beat Wall Street estimates for its third-quarter earnings and raised its 2023 guidance for adjusted income from operations. Twilio lost $142 million, or 78 cents a share, compared with $482 million, or $2.63 a share, in the year-ago quarter. Adjusted for one-time items, the company earned 58 cents a share. Revenue rose 5% to $1.03 billion, the company said. Analysts polled by FactSet expected adjusted earnings of 37 cents on sales of $990 million. Twilio said it expects 2023 non-GAAP income from operations between $475 million and $485 million. Twilio raised that guidance in May and again in August. It also guided for fourth-quarter revenue between $1.03 billion and $1.04 billion, around FactSet consensus.

-Claudia Assis

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

11-08-23 1651ET

Copyright (c) 2023 Dow Jones & Company, Inc.