Is Twilio’s Soaring Stock Immune to the COVID-19 Crisis?
Twilio's (NYSE: TWLO) stock recently surged to an all-time high after the cloud services provider posted impressive first-quarter numbers. Its revenue rose 57% annually to $364.9 million, beating estimates by $36.6 million. Its adjusted net income grew 30% to $8.4 million, or $0.06 per share, and crushed expectations by $0.17 per share.
Twilio expects its revenue to rise 33%-35% annually in the second quarter, but withdrew its prior full-year outlook for 30%-31% revenue growth in light of the COVID-19 pandemic. The decision wasn't surprising, since many other tech companies recently suspended their forecasts, but Twilio's core business seems well-insulated from the pandemic.
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Source Fool.com
