RTTNews | Oct 28, 2021 11:21AM EDT

11:21 Thursday, October 28, 2021 (RTTNews.com) - Twilio Inc. (TWLO) shares are down more than 14 percent on Thursday morning trade after the company reported a wider net loss for the third quarter and projects wider than expected net loss range for the fourth quarter.

The company reported third quarter net loss of $224.11 million or $1.26 per share, wider than $116.91 million or $0.79 per share in the prior year.

The forecast for the fourth quarter is adjusted net loss in a range of $0.26-$0.23 per share, while analysts are looking for net loss of $0.07 per share. Revenue projection is for $760-$770 million, while analysts are expecting $796-$709.92 million.

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