Shares of cloud communications platform provider Twilio (NYSE:TWLO) are soaring higher today on the back of a robust fourth-quarter showing.
Revenue rose 21% year-over-year to $1.02 billion, outperforming estimates by $20 million. EPS at $0.22 too came in far ahead of consensus by $0.30. At the end of the quarter, the company had about 290,000 active customers as compared to 256,000 active customers in the year-ago period.
Earlier, TWLO also announced a 17% headcount reduction in a bid to lower costs. Looking ahead, for Q1, the company sees revenue landing between $995 million and $1,005 million. EPS is expected to hover between $0.18 and $0.22.
Overall, Wall Street has a consensus price target of $70.86 on TWLO, implying a 7.28% potential upside in the stock. That’s on top of a 22% price gain in TWLO shares over the past month alone.
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