(Reuters) - Twilio Inc <TWLO.N> on Monday posted a surprise third-quarter profit and forecast sales above estimates for the fourth, as a switch to remote working and learning due to the COVID-19 pandemic boosted demand for cloud services.
The cloud communications company, however, expects to post a loss of 8 cents to 11 cents per share for the current quarter. Analysts on average were expecting a profit of 2 cents.
Shares of the company were down 1.2% in extended trading.
Excluding items, Twilio posted a profit of 4 cents per share for the third quarter, while analysts had expected a loss of 3 cents per share.
The company's revenue jumped over 50% to about $448 million in the third quarter and beat estimates of $409.9 million, according to IBES data from Refinitiv.
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