Why Twilio Stock Plunged Today
Shares of Twilio (NYSE: TWLO) fell 17.6% on Thursday after the communications software provider offered a tepid financial outlook and announced the departure of a key executive.
Twilio's active customer base grew to over 250,000 accounts as of the end of September, up from 208,000 at the end of the year-ago quarter. The company also continues to find success with selling more services to its existing clients, as evidenced by its dollar-based net expansion rate of 131%. Together, this helped to drive Twilio's revenue higher by 65% year over year to $740.2 million.
"We delivered another quarter of strong growth at scale in the third quarter as companies continue to turn to Twilio in this digital-first world," CEO Jeff Lawson said in a press release.
Source Fool.com
