Twilio Is Soaring As Communications Migrate to the Cloud
Share prices of cloud-based communications pioneer Twilio (NYSE: TWLO) continued their run higher on Wednesday after the fourth-quarter 2020 earnings update was released. A 65% year-over-year increase in revenue during the final months of the year was responsible, as was a forecast for at least 44% growth in first-quarter 2021.
After a nearly 400% share price increase in the last year, this is undeniably an "expensive" stock. But the way we communicate is changing rapidly, and Twilio is enabling that change in a big way. This remains a top cloud computing buy despite the price tag.
Software, specifically of the cloud variety, became more important than ever last year. Developers are now a critical part of organizations as they navigate a new digital world and implement new operational standards. More than 10 million developers around the world are using Twilio's library of software to embed new means of communication within applications. The power of this huge force was apparent in the final months of the year, with revenue increasing 65% from last year to $548 million.
Source Fool.com
