German DAX 30 index opens up 0.5% to 12,659.08

German DAX 30 index opens up 0.5% to 12,659.08

Twilio stock heads toward record high after earnings beat

Twilio Inc. shares soared nearly 14% in the extended session Monday after the the company announced that it had turned a profit on an adjusted basis and issued better-than-expected guidance for the third quarter. If the stock closes at its after-hours level in regular trading on Tuesday it will mark a record high. The company reported second-quarter net losses attributable to stockholders of $24 million, or 25 cents a share, compared with losses of $7.1 million, or 8 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation, earnings were 3 cents a share compared with losses of 5 cents a share in the year-ago quarter. Revenue rose to $147.8 million from $95.9 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted losses of 6 cents a share on revenue of $130.4 million. For the third quarter, analysts model adjusted losses of 0 cents a share on sales of $134.8 million. The company said it expected revenue of $150 million to $152 million and adjusted earnings of 2 cents to 3 cents a share. Twilio shares closed up 2.1% to $63.27 during regular trading as the S&P 500 index rose less than 1%.

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