Twilio stock explodes higher after big earnings beat
Twilio Inc. shares added to a tremendous year Tuesday afternoon after a big earnings beat led to big gains. The application-software company reported a net loss of $27.1 million on revenue of $168.9 million, up from revenue of $100.5 million in the same quarter last year. After adjusting for stock-based compensation and other factors, the company claimed a profit of 7 cents a share, up from an adjusted loss of 8 cents a share a year ago. That performance destroyed expectations, as analysts on average projected adjusted earnings of 3 cents a share on sales of $151.6 million, according to FactSet, after Twilio projected adjusted profit of 2 cents to 3 cents a share on sales of $150 million to $152 million. Twilio shares jumped more than 10% in immediate after-hours trading. The stock had tripled on the year before losing 1.1% in Tuesday's regular trading session, as the S&P 500 index has gained 2.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.