:Twilio Inc on Wednesday reported better-than-expected quarterly earnings and said the cloud communications platform will buy back shares worth $1 billion, sending its shares up 12 per cent in extended trading. The company said its active customer accounts rose by 13 per cent in the fourth quarter, but rising
:Twilio Inc on Wednesday reported better-than-expected quarterly earnings and said the cloud communications platform will buy back shares worth $1 billion, sending its shares up 12 per cent in extended trading.
The company said its active customer accounts rose by 13 per cent in the fourth quarter, but rising fears of a recession are now pressuring demand. Like other internet-focused businesses, Twilio's revenue growth has slowed in the past year after a boom during the pandemic. Twilio's revenue grew 22 per cent in the quarter ended Dec. 31 to $1.02 billion, the slowest pace in at least two years. But it was slightly higher than analysts' estimates of $1.00 billion, according to Refinitiv.
The company recently said it was eliminating about 17 per cent of roles in its second round of job cuts and closing some offices to focus on profitability.The current-quarter revenue forecast of between $995 million and $1.00 billion was, however, below analysts' average expectation of $1.02 billion.
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