Twilio Soars on Communications Software Demand Amid Pandemic
- Company projects sales increase of as much as 35% in quarter
- CFO says Twilio will push expansion effort despite coronavirus
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Twilio Inc. projected rising sales for the second quarter, signaling stronger demand for communications software amid the coronavirus pandemic and sending the shares up the most in almost four years.
Revenue will increase as much as 35% to $370 million in the period, the San Francisco-based company said Wednesday in a statement. Analysts, on average, projected sales of $334 million, according to data compiled by Bloomberg. The company expects a loss, excluding some items, of 8 cents to 11 cents per share, which also is better than analysts had estimated.