Cloud communications platform Twilio Inc. (NASDAQ: TWLO) reported a sharp increase in second-quarter revenues, which resulted in a surprise profit. The company’s stock dropped about 5% during Tuesday’s extended session, immediately after the announcement.
The company reported adjusted earnings of $0.09 per share for the June quarter, compared to $0.03 per share in the corresponding period of last year. Analysts were looking for a loss in the latest quarter. On a reported basis, it was a net loss of $99.9 million or $0.71 per share, compared to last year’s loss of $92.6 million or $0.72 per share.
Revenues climbed 46% from last year to $400.8 million in the second quarter and surpassed the market’s projection. During the three-month period, the number of active customer accounts rose 24% year-over-year to more than 200,000.
The stock lost sharply on Tuesday evening, after closing the regular session slightly lower.