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Twilio Shares Jump on Raised Revenue Guidance

Company filing with SEC discloses improved outlook for revenue in just-completed quarter
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Twilio  (TWLO) - Get Free Report shares rose sharply in after-hours trading Thursday after the company said in an SEC filing that its revenue for the just-completed quarter will be higher than previously forecast.

The company said in an SEC filing that it “preliminarily expects that the company’s total revenue for the quarter ended Sept. 30, 2020 will be ahead of the company’s previously issued guidance of $401 million to $406 million.”

Twilio had been expected to report revenue of $404.6 million for the quarter, based on a FactSet survey of 25 analysts.

In the same period a year ago, the company posted sales of $295.1 million.

Shares of Twilio rose $23.99, or 9.3%, to $280.90 in after-hours trading. In the regular session on Thursday the stock rose 4%.

In comments during the company’s investor day with analysts, CEO Jeff Lawson said Twilio customers had adapted quickly to Covid, using its tools to create new applications and tools to differentiate themselves from their competitors.

“We see a tremendous opportunity to play the long game here in customer engagement,” Lawson told analysts on the call. 

Elsewhere, among notable small- and medium-cap stocks in the cloud, 18 rose while two fell, Thursday. ANGI Homeservices  (ANGI) - Get Free Report led gainers, up $1.20, or 10.77%, to $12.29.

Juniper Networks  (JNPR) - Get Free Report shares fell 15 cents, or 0.7%, to $21.35.

The Global X Cloud Computing ETF  (CLOU) - Get Free Report rose 47 cents, or 1.97%, to $24.36.

The First Trust Cloud Computing ETF  (SKYY) - Get Free Report rose 92 cents, or 1.17%, to $79.41.

Big cap companies with significant cloud computing interests were mixed.

Amazon  (AMZN) - Get Free Report shares rose $72.53, or 2.3%, to $3,221.26.

Cisco Systems  (CSCO) - Get Free Report shares fell 23 cents, or 0.59%, to $38.80.

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