Twilio Shares Plummet As Outlook Falls Short Of Wall Street View

Twilio Inc. shares plummeted in the extended session Tuesday after the cloud-computing company's outlook fell short of Wall Street estimates despite topping them for the most recent quarter. Twilio shares dropped 26% to $25.06 after hours, adding to a 1.3% decline during the regular session. The company forecast an adjusted loss of 10 cents to 11 cents a share on revenue of $85.5 million to $87.5 million for the second quarter, and an adjusted loss of 27 cents to 30 cents a share for the year on revenue of $356 million to $362 million for the year. Analysts surveyed by FactSet had estimated a loss of 8 cents a share on revenue of $87.8 million for the second quarter, and a loss of 16 cents a share on revenue of $370 million for the year. For the first quarter, Twilio reported an adjusted loss of 4 cents a share on revenue of $87.4 million, while analysts had forecast a loss of 6 cents a share on revenue of $83.6 million.