Twilio says it got the math wrong on its full-year earnings forecast last week

on Nov4
by | Comments Off on Twilio says it got the math wrong on its full-year earnings forecast last week |

Jeff Lawson, founder, CEO and chairman of Twilio, speaks at a press conference during the Mobile World Congress on March 1, 2017 in Barcelona, Spain

Joan Cros Garcia/Corbis | Corbis News | Getty Images

Cloud communications company Twilio just re-reported its full-year forecast, after the company messed up the math the first time around.

Twilio’s full-year earnings per share guidance is now expected to between 12 cents and 13 cents, instead of the 16 cents to 17 cents originally reported alongside its third-quarter earnings.

The company said in a filing the change is “due to a calculation error.”

It appears the company just didn’t add up the quarterly earnings correctly for fiscal 2019 when issuing the guidance last week. Twilio said last week it sees fourth-quarter earnings between 1 cents and 2 cents. It also reported last week 3 cents a share in non-GAAP earnings for the third quarter. It earned 5 cents a share and 3 cents a share in the first and second quarters, respectively. Those four-quarter earnings add up to a range of between 12 and 13 cents, the new guidance put out Monday.

Shares of Twilio fell as much as 17% last week after the company gave lower-than expected quarterly earnings and revenue guidance. The stock was up slightly in the premarket despite issuing the guidance correction. Shares of Twilio are up about 8% in 2019.



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