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: technology, breaking news: business, twilio inc, earnings, breaking news, business, mergers and acquisitions, activism, technology, business news,