Twilio (NYSE:TWLO) shares plunged Friday, a day after the cloud communications software maker announced third-quarter results that gave a soft revenue outlook.
The company posted a loss of 27 cents per share vs. loss of 36 cents per share as expected by analysts.
Revenue proved to be $983 million, vs. $972.2 million as expected by analysts.
“Like many companies, we are facing some short-term headwinds, but the long-term opportunity remains strong as companies continue building their customer engagement strategies, become more efficient, and aim to build better and more personalized relationships with their customers,” said CEO Jeff Lawson.
The company’s revenue grew 33% year over year, according to the statement, compared with 41% growth in the second quarter. Twilio said it had over 280,000 active customer accounts at the end of the third quarter, up from over 275,000 at the end of the second quarter.
With respect to guidance, Twilio is calling for a fourth-quarter adjusted net loss of 11 cents to 6 cents per share on $995 million to $1.005 billion in revenue. Analysts polled by Refinitiv had been expecting an adjusted loss of 12 cents per share on $1.07 billion in revenue.
TWLO docked $22.30 a shares, or 34.1%, to $43.05.