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Twilio Stock Breaks Out to Retest Prior Highs

November 07, 2018 / Justin Kuepper

Twilio Inc. (TWLO) shares rose more than 20% after the company posted better-than-expected third quarter financial results. Revenue rose 68% to $168.9 million, beating consensus estimates by $17.28 million, and earnings per share of seven cents beat consensus estimates by five cents per share. Gross margins, operating margins and active customers also surpassed analyst expectations during the quarter. While Twilio shares have fallen since the company agreed to acquire SendGrid, Inc. (SEND) for about $2 billion, the stock has substantially recouped those losses during Wednesday's session. SendGrid also reported strong earnings of its own during the third quarter, which has helped justify the transaction to skeptical shareholders. SendGrid did not provide any guidance, however, due to the pending acquisition. From a technical standpoint, Twilio stock rebounded from trendline and S1 support near $62.50 after closing a gap higher in early August to retest prior highs and R1 resistance ...