Shares of Twilio (NYSE:TWLO) gained in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $0.54, which beat analysts’ consensus estimate of $0.30 per share.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Sales increased by 10.2% year-over-year, with revenue hitting $1.04 billion. This beat analysts’ expectations by $52.83 million.
Looking forward, management now expects revenue and adjusted earnings per share for Q3 2023 to be in the ranges of $980 million to $990 million and $0.33 to $0.37, respectively. For reference, analysts were expecting $1.02 billion in revenue along with an adjusted EPS of $0.30.
Overall, Wall Street has a consensus price target of $64.89 on TWLO stock, implying 11.11% upside potential, as indicated by the graphic above.
