Twilio says it got the math wrong on its full-year earnings forecast last week
- 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 issued by the company.
- The company said in a filing the change is "due to a calculation error."
- It appears the company just didn't add up its quarterly earnings correctly for fiscal 2019 when issuing the guidance last week.
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.
Last week, Wall Street estimated full year 2019 earnings to come in around 17 cents, according to Refinitiv. As of Monday, the new consensus estimate came in at 14 cents.
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.
Twilio's stock fell 5.2% on Monday.