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Twilio Tanks as Loss Forecast Wider Than Estimates; COO Departs

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By Dhirendra Tripathi

Investing.com – Twilio stock (NYSE:TWLO) 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.

The company also said Chief Operating Officer George Hu is stepping down.

Hu was chiefly the man behind Twilio moving to a run rate of nearly $3 billion from $300 million five years ago. Hu will stay on for some time at the company to help transition some responsibilities to Chief Revenue Officer Marc Boroditsky.

Chief Financial Officer Khozema Shipchandler will execute the additional role of COO.

Revenue in the current quarter is seen at $765 million at midpoint, which would be up 39.5%.

The company is now expecting an adjusted operating loss of $40 million to $45 million in the current quarter. It had booked an operating profit of $12.8 million on an adjusted basis in the fourth quarter of last year and an adjusted profit of $8.2 million in the recent September quarter.

Third-quarter revenue rose 65%, to $740.2 million.

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