Cloud communications company Twilio announced its first-ever quarterly earnings ever as a public company — and, although it beat Wall Street expectations, the stock is staying flat.
Here are the important numbers:
- Revenue of $64.5 million vs. $58 million expected
- Loss of $0.08 per share vs. loss of $0.14 expected.
It’s not affecting the stock, much, though — it’s up less than 1% from its closing price after hours.
The lack of stock movement isn’t necessarily bad news for Twilio or its investors. Just about two months ago, Twilio had an explosive IPO, rocketing up from $18 in its debut to its current heights. Twilio’s public valuation of $3.57 billion is about three times as much as its last valuation as a private company. So the fact that Twilio had such a solid beat on its earnings is probably taken by early investors as validation of their early hype, rather than a big surprise.
Twilio’s cloud communication technology is used by companies like Uber, which uses it to automate the sending of text messages to customers. In a recent interview with Business Insider, CEO Jeff Lawson laid out the company’s strategy of selling straight to software developers at companies of all sizes.