Twilio (TWLO) Stock Sinks 11% Despite Q3 Beat as Outlook Weighs, COO Resigns
Twilio (NYSE: TWLO) shares were trading around 11% lower after-hours, despite the Q3 beat, with EPS coming in at $0.01, better than the consensus estimate of ($0.14). Quarterly revenue grew 65% year-over-year to $740.2 million (including $52.3 million from Twilio Segment, and $23.6 million from Zipwhip), beating the consensus estimate of $680.49 million.
As of September 30, 2021, the company had more than 250,000 active customer accounts (including Twilio Segment customer accounts), compared to 208,000 for the same period last year.
The company provided its Q4 outlook, expecting an EPS of ($0.26)-($0.23), compared to the Street estimate of ($0.07), and revenue of $760-770 million, compared to the Street estimate of $744.7 million.
The company also announced that George Hu intends to resign from his position as COO, agreeing to remain at the company as a strategic advisor to help with the transition until January 3, 2022. Marc Boroditsky, Twilio’s Chief Revenue Officer, will replace Hu, effective October 27, 2021.
