Communications PaaS player Twilio (NYSE: TWLO) recently announced its third-quarter results that continued to surpass market expectations. Twilio released several new products in the quarter based on Segment, its Customer Data Platform.

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Twilio’s Financials

Twilio’s third quarter revenues grew an impressive 65% to $740.2 million, surging ahead of the market’s forecast of $684.1 million. EPS was $0.01 per share, shattering the market’s expectations of a loss of $0.14 per share.

Among key metrics, its active customer accounts grew by 42,000 to 250,000. The company ended the quarter with 7,381 employees. Dollar-Based Net Expansion Rate which is calculated using total revenue was 131%, compared to 137% reported a year ago.

Twilio expects to end the fourth quarter with revenues of $760-$770 million with a loss of $0.26-$0.23 per share, which was in line with the Street’s forecast of revenues of $769 million with a loss of $0.20 per share.

Twilio’s Social Initiatives Leverage Segment

Recently, Twilio announced the launch of its newest service, Twilio Engage. As a part of its Customer Engagement Platform, Twilio Engage provides out-of-the-box functionality that is needed by marketers in addition to the connectivity and the extensibility of a build-it-yourself solution. It also provides marketers with the ability to use any combination of tools, data integrations, analytics, and messaging to provide one-to-one customer engagement at scale. Twilio Engage is the first of its kind, growth automation platform built on real-time, dynamically changing first-party customer data that allows marketers to quickly build and scale hyper-personalized omnichannel campaigns. The integration of Twilio Segment’s customer data infrastructure with Twilio’s communication APIs gives marketers the ability to easily and quickly build better customer experiences.

Earlier this summer, Twilio also announced the launch of Journeys, a new product built on Twilio Segment that allows marketers to build sophisticated customer journeys and manage personalization at scale, through every channel. With most of the world operating on a digital model, there is added demand for personalized brand interaction. Journeys will allow Segment users to deliver a consistent experience across all channels that continues to evolve based on a customer’s actions, preferences, and feedback.

Twilio’s new offerings continue to leverage Segment platform that is showing significant expansion. During the last quarter, Segment grew 10% sequentially to $52 million, compared with 4% reported a quarter ago. Twilio is hopeful that Segment will continue to accelerate in the current quarter, thus benefiting gross margin.

Its stock is currently trading at $313.42 with a market cap of $55.39 billion. The stock had climbed to a year-high of $457.30 in February. It has recovered from the year low of $254.82 that it had fallen to in November of last year.