Twilio tanks on 2Q forecast. This is what it could mean for the stock
Market Movers rounded up the best reactions from investors and analysts on Twilio after its earnings results were released Tuesday after the bell. The experts, including Jim Cramer , discussed the software stock as shares plunged 12% Wednesday. The company's first-quater report beat expectations but, Twilio also announced its revenue forecast for the second quarter, which came in lighter than expected. It anticipates between $980 million and $990 million in revenue, while analysts polled by Refinitiv were expecting $1.05 billion in revenue. Additionally, KeyBanc downgraded Twilio to sector weight from overweight, adding it sees a deceleration in the company's business outlook.
Source: CNBC
