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Why Twilio Stock Plunged Today

TheMotleyFool

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Why Twilio Stock Plunged TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

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

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