Twilio (NYSE:TWLO) saw its shares fall more than 8% following the closing bell on Wednesday after the company reported results for the fiscal fourth quarter.
The programmable communication tools provider posted earnings per share (EPS) of $0.86, which outpaced the consensus estimates of $0.57. The company's quarterly revenue also surpassed expectations, reaching $1.08 billion compared to the anticipated $1.05 billion.
Organic revenue grew 8% year-over-year during the quarter, with its communications segment also achieving an 8% growth over the same period in 2023.
To date, Twilio said it has executed over $730 million in share repurchases since announcing the program in February 2023, fulfilling more than 73% of its planned total.
Looking ahead to the first quarter of 2024, Twilio anticipates its EPS to be between $0.56 and $0.60, just above the consensus estimate of $0.55.
However, projected revenue for the quarter stands at $1.03 to $1.04 billion, slightly below the expected $1.05 billion.
Organic revenue growth for Q1 2024 is estimated to range from 2% to 3%.
“Twilio had a terrific fourth quarter to close out a strong 2023,” said Khozema Shipchandler, the company's CEO.
“It’s a privilege to lead the Twilio team into its next chapter as we continue to make strides on our path to GAAP profitability. We enter 2024 from a position of strength and the team is focused on further delivering on our customer engagement vision for our customers.”