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Twilio begins operational review of activist-targeted business unit - TL;DR CNBC

Twilio begins operational review of activist-targeted business unit

Publishing timestamp: 2024-02-14 18:26:02


Summary

Twilio has initiated an operational review of its Segment business unit, which it acquired in 2020 for $3.2 billion. The business unit has been under scrutiny from activist investors who have called for its breakup or the sale of the entire company. Twilio announced that it recorded a $286 million impairment related to the business unit and will be renaming it back to Segment. The company's CEO, Khozema Shipchandler, stated that they will take a fresh look at underperforming areas of the business. Twilio reported better-than-expected earnings for the fourth quarter but saw its shares drop in after-hours trading due to lower-than-expected active customers. The company will provide full-year guidance and the results of the operational review in March.


Sentiment: MIXED

Tickers: TWLO

Keywords: breaking news: technologybreaking news: businesstwilio incearningsbreaking newsbusinessmergers and acquisitionsactivismtechnologybusiness news

Source: https://www.cnbc.com/2024/02/14/twilio-begins-segment-operational-review-after-activist-attention.html


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