Twilio stock continues to rise even after the forecast was raised

Twilio stock continues to rise even after the forecast was raised

Jeff Lawson, co-founder and chief executive officer of the Twilio Inc. Outreach Center, rang the opening bell on the floor of the New York Stock Exchange on September 17, 2018.

Michael Nagle | Bloomberg | Getty Images

Shares of cloud communications company Twilio rose more than 12 percent on Friday morning. The stock gained 10% after the market closed on Thursday evening The new 52 week has arrived.

Twilio Thursday Said in a filing Revenue for the third quarter is expected to exceed $ 401 million to $ 406 million Provided In August.

The company expects revenue of $ 407.9 million in the third quarter, according to a survey conducted by Refinitive. This range indicated growth of 36% to 38%, down from 46% in the second quarter.

During his investment day presentation on Thursday, Twilio said he expects at least 30% organic annual revenue growth over the next four years and a long-term adjusted overall margin of 60% to 65%.

Many cloud companies have seen gains this year as schools and companies have had to rely on online software to connect people during the Corona virus shipping. With Friday’s pop, Twilio shares have risen more than 192% to date.

– CNBC’s Jordan Nowat contributed to this report.

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