202007 May

Twilio Stock Surges On Healthcare, Education Growth

Summary

Twilio stock jumped as first-quarter earnings and revenue beat expectations on growth in education, healthcare and retail sectors amid the coronavirus emergency. The software makers tools enable app developers to embed voice, text messaging and video into their products. Twilio earnings, reported late Wednesday, came in at 6 cents a share for the three months ended March 31, up 20% from a year earlier. "Twilio experienced weakness from customers in verticals such as travel, hospitality and rideshare as demand plummeted across these industries during the COVID-19 lockdown, while other verticals such as education, healthcare and retail accelerated their digital transformation journeys," Brian White, an analyst at Monness, Crespi, Hardt, said in a report to clients. " Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

Source: Investors

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