Twilio shares climb 4% on better-than-expected revenue

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Twilio Inc. shares were initially up 4% in after-hours trading Monday after the developer of communications software reported fiscal third-quarter revenue that blew past Wall Street estimates. Twilio reported a loss of $116.9 million, or 79 cents a share, compared with a loss of $87.7 million, or 64 cents a share, in the year-ago quarter. Twilio’s reported an adjusted loss of 4 cents a share. Revenue vaulted 52% to $447.9 million from $295.1 million a year ago. Analysts surveyed by FactSet had expected a net loss of 4 cents a share on revenue of $407 million. Twilio shares are up 206% this year as the company continues to benefit from an economy roiled by the coronavirus pandemic. The broader S&P 500 index has improved 5% in 2020.
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