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Twilio forecasts fourth-quarter profit above estimates on active customer accounts growth

Published 11/08/2023, 05:43 PM
Updated 11/08/2023, 05:46 PM
© Reuters. FILE PHOTO: The logo of communication company Twilio is displayed at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo
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(Reuters) - Cloud service provider Twilio (NYSE:TWLO) on Wednesday forecast fourth-quarter profit above Wall Street estimates on an increase in its active customer accounts.

The company's shares rose 8.4% to $60.50 after the bell.

San Francisco-based Twilio expects fourth-quarter adjusted profit between $0.53 per share and $0.57 per share, compared with analysts' estimates of $0.36, according to LSEG data.

The company's active customer accounts in the third quarter rose to 306,000 from 280,000 a year earlier.

On an adjusted basis, Twilio earned $0.58 per share, compared with estimates of $0.35 per share.

© Reuters. FILE PHOTO: The logo of communication company Twilio is displayed at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Picture taken June 23, 2022. REUTERS/Chris Helgren/File Photo

The company posted revenue of $1.03 billion, beating estimates of $989.28 million.

Twilio divested its IOT business in June this year and its ValueFirst business in July.

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