Twilio Inc. TWLO,
announced Thursday afternoon that it expects to sell $ 1 billion in new shares, after its shares accelerated to record highs after a strong profit report. Shares fell 2.5% in overtime trading, after a 7.7% increase in the regular session to a record close of $ 443.49. The San Francisco software company reported Wednesday afternoon that revenue rose 65 percent in the fourth quarter, topping $ 500 million in the three-month period. Twilio went public in 2016 at $ 15 per share, valuing the company at approximately $ 1.2 billion; Twilio’s market capitalization topped $ 65 billion for the first time on Thursday. The company did not announce the share price, but said it could sell up to $ 150 million more than its $ 1 billion target.