Twilio Inc ( TWLO ) reported first-quarter financial results Tuesday after the bell. Here’s a rundown of the report.

Q1 Earnings Highlights: Twilio’s first-quarter revenue increased 4% year-over-year to $1.05 billion, which beat the consensus estimate of $1.03 billion, according to Benzinga Pro. The cloud-based customer engagement company reported quarterly earnings of 80 cents per share, which beat analyst estimates of 60 cents per share.

Communications revenue came in at $972 million, up 4% year-over-year. Segment (formerly Data & Applications) revenue totaled $75 million, up 2% year-over-year.

Twilio ( TWLO ) said it had more than 313,000 active customer accounts as of March 31, up from 300,000 year-over-year.

“We are operating with greater financial discipline, operational rigor, and focus on innovation than ever before. Our solid first quarter results build on the momentum that we’ve delivered over the last several quarters, demonstrating continued progress on profitability and significant free cash flow,” said Khozema Shipchandler, CEO of Twilio ( TWLO ).

“Moving forward, we’ll continue to drive further leverage, while also making focused investments that we expect will re-accelerate growth over time.”

Twilio’s board authorized a $1 billion buyback in February and an additional $2 billion to the program in March. Twilio ( TWLO ) said it has repurchased $1.5 billion worth of its shares and plans to complete the remaining $1.5 billion of repurchases before the end of 2024.

Outlook: Twilio expects second-quarter revenue to be between $1.05 billion and $1.06 billion. The company sees second-quarter adjusted earnings in the range of 64 cents to 68 cents per share. Twilio ( TWLO ) expects full-year 2024 revenue growth of 5% to 10%.

Management will hold a conference call to discuss these quarterly results at 5 p.m. ET.

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TWLO Price Action: Twilio ( TWLO ) shares were down 5.98% after hours at $59.58 at the time of writing, according to Benzinga Pro.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.