NEW YORK: Twilio on Monday posted a surprise third-quarter profit and forecast sales above estimates for the fourth, as a switch to remote working and learning due to the COVID-19 pandemic boosted demand for cloud services.
The cloud communications company, however, expects to post a loss of 8 cents to 11 cents per share for the current quarter. Analysts on average were expecting a profit of 2 cents.Excluding items, Twilio posted a profit of 4 cents per share for the third quarter, while analysts had expected a loss of 3 cents per share.
The company's revenue jumped over 50 per cent to about US$448 million in the third quarter and beat estimates of US$409.9 million, according to IBES data from Refinitiv.Advertisement Twilio, which earlier this month said it would buy customer data platform Segment for US$3.2 billion in an all-stock deal, expects sales for the current quarter in the range of US$450 million to US$455 million. Analysts were expecting US$437.4 million.
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