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Twilio Tanks as Loss Forecast Wider Than Estimates; COO Departs -Breaking

by Mike Robinson

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© Reuters

By Dhirendra Tripathi

Investing.com – Twilio stock (NYSE:) fell 15% on Thursday, but were off their lows of the session, after the company projected a wider loss for the December quarter than Wall Street expected.

Also, George Hu, the Chief Operating Officer for the company has resigned.

Hu was the main reason Twilio grew from $300 million to $3 billion in five years’ time to almost $3 billion. Hu will continue to work at the company for a time to transition some of his responsibilities to Marc Boroditsky as Chief Revenue Officer.

Khozema, Chief Financial Officer, will assume the role of COO.

The current quarter’s revenue is estimated at $765million at midpoint. This would increase 39.5%.

The current quarter’s adjusted operating loss is expected to be between $40 million and $45 millions. The company had an operating profit in excess of $12.8million in the fourth quarter last year, and an adjusted profit in excess of $8.2million in September.

The third quarter revenue increased by 65% to $740.2million.

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