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Amplitude sharesAirbnb and Twilio are down sharply this morning following their earnings results yesterday.
It may seem odd to group these companies together given the different sectors they operate in: Amplitude does digital product analytics, Airbnb provides a marketplace for consumer lodging rentals, and Twilio sells API-based connectivity services for software products. What might they have in common?
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The answer appears to be a growth forecast for the year that came in below Wall Street’s expectations.
While we’re not exactly impressed by the fact that America’s biggest tech companies are expanding their earnings, it doesn’t seem like we’re seeing an issue that only affects Big Tech. Their younger peers are seeing similar headwinds.
This morning we’ll look at each company’s results and then hear from Amplitude’s CEO. Spencer Skates. Finally, we look at a broad index of the growth rates of modern software companies and put them all together to show the paths taken by startups.
The road ahead
Airbnb requires no login, so we can jump right into the numbers. The company reported better-than-expected revenue and its first GAAP profit in the quarter, as well as generating more cash. In particular, revenue growth of 20% in the age of Airbnb feels like a good result in this economy.
However, Airbnb expects revenue to increase by 12% to 16% in the second quarter from a year ago. This is slightly lower than the 58% growth seen in Q2 2022, and down from the 20% growth seen in Q1 2023. Investors did. is not According to that prediction.
As for Twilio, it reported better-than-expected profit and revenue in the first quarter, but its second-quarter revenue forecast of $980 million to $990 million, or 4 percent to 5 percent growth, disappointed investors, especially in 2018. Analysts were expecting revenue of more than $1.05 billion.
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