Twilio Inc posts its surprise third-quarter revenue

On Monday, Twilio Inc (TWLO.N) posted its surprise third-quarter revenue and forecast sales estimates for the fourth quarter.

The American cloud communications service company said that its cloud services became in demand as firms switched to remote working and learning amid the coronavirus outbreak.

According to the IBES data from Refinitiv, Twilio’s net profit went up by over 50% to $448 Million in the third quarter and beat analysts’ estimates of $409.9 Million.

As of September 30, 2020, Twilio’s active customer accounts climbed by almost 21% to 208,000.

In addition, Twilio stated that it would acquire customer data platform Segment (CDP) in an all-stock deal worth $3.2 billion. Analysts said that they were expecting current quarter sales worth $437.4 Million.

“Together, Twilio and Segment have an incredible opportunity to build the customer engagement platform of the future,” Segment’s Chief Executive Officer Peter Reinhardt said in an interview.

“By joining forces and applying our customer data platform to Twilio’s engagement cloud, we’ll be able to make the entire customer experience seamless from end-to-end,” he added.