Twilio (Twilio Inc (NYSE:TWLO)) shares opened about 18% higher on Friday after the communications software company reported second-quarter results that exceeded analyst expectations.
Twilio reported adjusted earnings of $1.47 per share for the second quarter, compared with analyst consensus estimates of $1.32 per share
Revenue reached $1.50 billion, up 22% year over year and above estimates of $1.43 billion. Organic revenue growth was 17%. GAAP gross profit rose 20% year over year to $725.9 million, while non-GAAP gross profit increased 18% to $735.7 million.
GAAP income from operations was $84.5 million, up 129% from a year earlier, while non-GAAP income from operations increased 29% to $284.6 million. Twilio reported GAAP diluted earnings per share of $6.68, compared with $0.14 in the year-ago quarter. The company said the figure included a non-cash benefit of $5.91 per share from the release of a significant portion of the valuation allowance against its US deferred tax assets.