Twilio forecasts larger-than-expected loss, shares slump

Reuters News
Posted: May 02, 2017 5:10 PM

(Reuters) - Cloud-based communication software maker Twilio Inc forecast a larger-than-expected adjusted loss for the full year, sending its shares down 30 percent in after-market trading.

The company forecast adjusted full-year loss of 27 cents-30 cents, well below analysts' average estimate of a loss of 16 cents, according to Thomson Reuters I/B/E/S.

Twilio also said it was seeing some changes in its relationship with its largest customer, Chief Executive Officer Jeff Lawson said in a statement on Tuesday. [nBw38pLy0a]

San Francisco-based Twilio's customers include WhatsApp, which accounted for about 9 percent of the company's revenue in 2016 and 17 percent in 2015.

Revenue jumped 47.2 percent to $87.4 million in the first quarter.

Net loss attributable to stockholders increased to $14.2 million from $6.5 million.

On a per share basis, that translated to a loss of 16 cents, compared with a loss of 37 cents a year-earlier, due to a higher share count.

Excluding items, the company reported a loss of 4 cents per share. Analysts on average had estimated a loss of 6 cents per share.

The company's shares were down 29.6 percent at $23.9 in after-market trading. Through Tuesday's close, the stock had gained about 18 percent this year.

(Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)