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MarketWatch MarketPulseOct 26, 2020
Twilio shares climb 4% on better-than-expected revenue
Twilio Inc. shares were initially up 4% in after-hours trading Monday after the developer of communications software reported fiscal third-quarter revenue that blew past Wall Street estimates. Twilio reported a loss of $116.9 million, or 79 cents a share, compared with a loss of $87.7 million, or 64 cents a share, in the year-ago quarter. Twilio's reported an adjusted loss of 4 cents a share. Revenue vaulted 52% to $447.9 million from $295.1 million a year ago. . Across-the-board strength in business operations, led by gains in vertical markets such as health care and financial services, contributed to the hike in revenue, Twilio Chief Financial Officer Khozema Shipchandler told MarketWatch after the results were announced. Analysts surveyed by FactSet had expected a net loss of 4 cents a share on revenue of $407 million. Twilio shares are up 206% this year as the company continues to benefit from an economy roiled by the coronavirus pandemic. The broader S&P 500 index has improved 5% in 2020.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessOct 26, 2020
SAP Sends Warning for Software Earnings With Dire Forecast
(Bloomberg) -- Dire earnings results at SAP SE wiped out more than 35 billion euros ($41 billion) from the German software company's market value in a matter of minutes, sending a warning to tech investors about the health of the business software industry.In a surprise release late Sunday, SAP, one of Europe's largest tech companies, cut its revenue forecast for the full year and said it expected the fresh wave of Covid-19 lockdowns to hurt demand through the first half of 2021. The results caused shares to fall the most ever in a single day, according to data compiled by Bloomberg since 1989.SAP's collapse caused the wider tech market to drop, with Europe's Stoxx Technology index falling 7.6%, its biggest one-day loss since March. Shares of cloud-applications giant Salesforce.com Inc. fell 4.1% at 2:28 p.m. in New York. Oracle Corp. -- SAP's main rival -- dropped 3.9%."SAP is a bellwether stock for European technology and global software," said Citigroup Global Markets analyst Amit Harchandani. "They have an insight into Fortune 500 companies and when SAP tells you they see headwinds, there will be some truth to the fact that some of the customers are challenged and don't have the money to spend."For some investors, SAP's results have called into question the wider assumption that software companies will prosper during the pandemic, due to millions of employees working from home. Many of these companies, which deliver applications or services over the internet, have so far resisted the worst effects of
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