Why Twilio Stock Fell Hard Today

Despite Twilio (NYSE: TWLO) reporting second-quarter results that outpaced Wall Street's expectations, shares of the cloud-based communications platform were tumbling today. Investors appeared to be disappointed with Twilio's third-quarter guidance, which fell below consensus estimates. 

The tech stock was down by 13.6% as of 12:18 p.m. ET on Friday.

The company reported second-quarter revenue of $943.4 million, up 41% from the year-ago quarter and ahead of analysts' consensus estimate of $919.4 million. Twilio's adjusted loss per share of $0.11, which was flat on a year-over-year basis, was better than Wall Street's average estimate of a loss of $0.20 per share. 

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Source Fool.com