Shares of (NYSE: TWLO) have underperformed the broader stock market in 2023, which isn't surprising as the cloud communications specialist's growth has stalled on account of weak consumer spending.
Twilio stock is up only 19% in 2023, which is well below the Nasdaq-100 Technology Sector index's impressive gains of 44%. The company has blamed macroeconomic headwinds for the slowdown in customer spending and the poor financial performance that it has been delivering in recent quarters.
However, Twilio's results for the third quarter of 2023 seem to have injected some life into the stock. Twilio released its Q3 results on Nov. 8, and the stock was up 5% the following day. Let's see why.
Source Fool.com