Twilio forecasts quarterly revenue below estimates on weak enterprise spending

Twilio

07/05/2024 22:43

May 7 (Reuters) - Twilio  TWLO.N  forecast
second-quarter revenue below Wall Street estimates on Tuesday,
expecting a slowdown in demand as customers cut back on
discretionary spending amid economic uncertainty.
    Shares of the San Francisco-based cloud communications
company fell more than 6% in aftermarket trading.
    Twilio, which makes products that help developers build
communication features such as messaging and phone calls, is
seeing slowing revenue growth as customers are cutting back
discretionary spending.
    The company expects second-quarter revenue to be between
$1.05 billion and $1.06 billion, compared with analysts' average
estimate of $1.08 billion, according to LSEG data.
    Twilio expects adjusted profit per share to be between 64
cents and 68 cents, compared with analysts' estimate of 62
cents.
    The company said it has more than 313,000 active-customer
accounts as of March 31, compared with more than 300,000 from a
year earlier.
    Twilio posted revenue of $1.05 billion, for the first
quarter ended March 31, beating an estimate of $1.03 billion.
    Its adjusted profit per share came in at 80 cents, also
beating analysts' estimate of 60 cents per share.

 (Reporting by Jaspreet Singh in Bengaluru; Editing by Mohammed
Safi Shamsi)
 ((Jaspreet.Singh@thomsonreuters.com; https://twitter.com/i_jass;))