Twilio tumbles after issuing a soft quarterly revenue projection

Twilio shares fell arsenic overmuch arsenic 14% successful extended trading connected Thursday aft the unreality communications bundle shaper announced third-quarter results that gave a brushed gross outlook.

"Like galore companies, we are facing immoderate short-term headwinds, but the semipermanent accidental remains beardown arsenic companies proceed gathering their lawsuit engagement strategies, go much efficient, and purpose to physique amended and much personalized relationships with their customers," Jeff Lawson, Twilio's co-founder and CEO, was quoted arsenic saying successful a statement.

Here's however the institution did:

• Loss: Loss of 27 cents per share, adjusted, vs. nonaccomplishment of 36 cents per stock arsenic expected by analysts, according to Refinitiv.
• Revenue: $983 million, vs. $972.2 cardinal arsenic expected arsenic expected by analysts, according to Refinitiv.

The company's gross grew 33% twelvemonth implicit twelvemonth successful the quarter, according to the statement. Twilio said it had implicit 280,000 progressive lawsuit accounts astatine the extremity of the 3rd quarter, up from implicit 275,000 astatine the extremity of the 2nd quarter.

With respect to guidance, Twilio is calling for a fourth-quarter adjusted nett nonaccomplishment of 11 cents to 6 cents per stock connected $995 cardinal to $1.005 cardinal successful revenue. Analysts polled by Refinitiv had been expecting an adjusted nonaccomplishment of 12 cents per stock connected $1.07 cardinal successful revenue.

Notwithstanding the after-hours move, Twilio shares were down 75% truthful acold this year, portion the S&P 500 scale was disconnected by astir 20% implicit the aforesaid period.

Twilio is moving to go profitable successful 2023. In September the institution announced that it was cutting 11% of employees. Over 800 volition permission the institution successful the 4th quarter, Twilio said connected Thursday.

Executives volition clasp a virtual Investor Day for investors and analysts starting astatine 4:30 p.m. ET.

This is breaking news. Please cheque backmost for updates.

WATCH: We're headed towards profitability successful 2023, says Twilio CEO