Why Twilio Stock Melted Down Today
Twilio (NYSE: TWLO) reported its third-quarter results late Thursday, and on Friday morning, the stock fell hard. While the digital communication specialist beat analysts' consensus estimates on the top and bottom lines, management issued fourth-quarter revenue guidance that was below expectations and warned that the macroeconomic climate is hurting Twilio's business.
Lately, investors have been quick to dump technology companies that experience any slowdowns, and that appears to be what's happening here. Twilio's share price was down 35.3% as of 11:24 a.m. ET.
Twilio reported a non-GAAP (adjusted) loss of $0.27 per share in the quarter, which was far worse than its earnings of $0.01 per share in the prior-year quarter, but still ahead of Wall Street's consensus estimate for a loss of $0.36 per share.
Source Fool.com
