Twilio’s stock plunged after the company said it will incur a bigger full-year loss than expected.
It forecasted an adjusted per-share loss of $US0.27 to $US0.30, badly missing the consensus forecast of $US0.16. Twilio’s trimmed 2017 revenue forecast of $US356 million to $US362 million also fell short of estimates, which called for sales of $US370 million for the year.
The cloud communications company, which provides tools for helping apps and websites send texts and phone calls, also provided second-quarter profit and sales guidance that missed forecasts.
“While we are seeing some changes in the relationship with our largest customer, our momentum across the business continues to be strong,” Jeff Lawson, Twilio’s co-founder and CEO, said in a statement.
Twilio did lose less money than expected in the first quarter on a per-share basis, while also beating revenue forecasts.
That wasn’t enough. Shares of Twilio plummeted 26% to $US25.09 a share in after-market trading.