Stock Alert: Twilio Trading Down 9%

(RTTNews) - Shares of cloud communications platform Twilio Inc.(TWLO) are down 9 percent in Thursday's trading in spite of its earnings surpassing the Street view.

The company said its Chief Product Officer Chee Chew will be leaving the company in May.

Twilio posted first-quarter net loss of $206.5 million or $1.24 per share, compared to net loss of $94.8 million or $0.68 per share in the same period last year.

Excluding items, it reported profit of $9.65 million or $0.05 per share, compared to $8.35 million or $0.06 per share in the prior-year quarter.

On average, 26 analysts polled by Thomson Reuters had expected the company to report net loss of $0.09 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Quarterly revenues climbed 62 percent to $590 million from $365 million in the year-ago period, while analysts were looking for revenues of $533 million.

The company also said that Chee Chew, who has served as Chief Product Officer since January 2019, will leave Twilio, effective May 17. The company added that it will start looking for a new leader for the Twilio Core Platform soon.

The stock is currently trading at $305.32, down $30.40 or 9 percent on the NYSE.

TWLO has traded between $152.40 and $457.30 during the past 52 weeks.