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Twilio beats earnings target and announces plans for R&D reshuffle
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Cloud communications platform provider Twilio Inc. posted a strong earnings beat and solid guidance today as it announced a reorganization of its product and research and development efforts.
The company reported a first-quarter profit before certain costs such as stock compensation of 5 cents per share on revenue of $590 million, up 62% from the same period a year ago. That was a solid performance, with Wall Street looking for a loss of 9 cents per share on revenue of just $532.9 million.
Twilio Chief Executive Jeff Lawson (pictured) said the company delivered yet another quarter of “outstanding growth” as companies and industries use its platform to drive their digital transformation efforts. “Over the last year, one thing has become extremely clear: We are in the midst of a massive shift in the way companies engage with their customers that is driving a generational opport