NEW YORK (TheStreet) -- Shares of Twilio (TWLO) were slipping in after-hours trading on Thursday despite the cloud communications platform reporting better-than-expected results for the 2016 third quarter and lifting its full-year forecast.
After today's closing bell, San Francisco-based Twilio posted an adjusted loss of 4 cents per share, above analysts' expectations for a loss of 8 cents per share.
Revenue was $71.53 million, topping Wall Street's projected $67.20 million.
For the year-ago period, Twilio said it reported an adjusted loss of 7 cents per share on revenue of $44.26 million. The company went public in June.
Twilio now expects to post an adjusted loss of 23 cents to 21 cents per share for 2016. The company previously forecast an adjusted loss between 30 cents to 28 cents per share, according to Barron's. Revenue for the year is expected to be in the range of $268 million to $270 million vs. its prior guidance of $254 million to $257 million.
For the fourth quarter, Twilio sees an adjusted loss of 6 cents to 5 cents per share. The FactSet consensus is for an adjusted loss of 6 cents per share. Twilio projects revenue to be between $72.5 million to $74.5 in 2016, while analysts surveyed by FactSet are forecasting revenue of $70.5 million.TWLO data by YCharts