Twilio, Inc. (NYSE: TWLO), a leading provider of programmable communication tools, has reported a 33% increase in revenues for the third quarter of 2022. However, the tech firm’s bottom line remained in negative territory.
The company reported a loss of $0.27 per share for the third quarter, on an adjusted basis, compared to earnings of $0.01 per share in the corresponding period of last year.
Check this space to read management/analysts’ comments on Twilio’s Q3 2022 earnings
On an unadjusted basis, it was a net loss of $482.3 million or $2.63 per share for the latest quarter, compared to a loss of $224.1 million or $1.26 per share in the third quarter of 2021. Revenues increased 33% year-over-year to $983.03 million during the three-month period.
“Like many companies, we are facing some short-term headwinds, but the long-term opportunity remains strong as companies continue building their customer engagement strategies, become more efficient, and aim to build better and more personalized relationships with their customers,” said Jeff Lawson, Twilio’s CEO.