Twilio quarterly revenue jumps 70 percent

A banner for communications software provider Twilio Inc., hangs on the facade of the New York Stock Exchange (NYSE) to celebrate the company’s IPO in New York City, U.S., June 23, 2016.

Reuters/Brendan McDermid

Twilio Inc, a developer-focused messaging and voice services provider, reported a 70 percent jump in quarterly revenue in its first report since going public in June, driven by demand.

The company’s total revenue rose to $64.51 million in the second quarter ended June 30 from $37.95 million a year earlier.

San Francisco-based Twilio’s net loss attributable to common shareholders widened to $10.99 million from $9.58 million.

On a per share basis, its loss fell to 45 cents per share from 52 cents per share due a sharp rise in the count of the company’s outstanding shares.

Twilio’s software is used by large companies such as Netflix Inc, WhatsApp and Uber, allowing them to speak with and text customers without exchanging contact information.

The company’s first-quarter revenue had soared 77.9 percent to $59.3 million, while its net loss had narrowed to $6.5 million from $8.7 million.

Twilio’s IPO on June 23 was the first offering in 2016 from a technology “unicorn”, private companies valued at more than $1 billion. The stock had nearly tripled from its IPO price of $15 through Monday’s close of $42.50.

(Reporting by Rishika Sadam in Bengaluru; Editing by Savio D’Souza)