Shares of cloud communication company Twilio soared 10% on Monday after it reported a nearly 50% gain in quarterly revenue.
Second quarter revenue rose to $95.9 million, up from $64.5 million in the same quarter a year earlier.
Following the earnings report, Twilio’s stock jumped $3.13 in after-hours trading to $33.66. In regular trading, before the earnings report, the company’s stock gained $1.32, or 4.5%, to close at $30.53.
Investors reacted dramatically different to Twilio’s second quarter results from the previous quarter, when the company’s shares plummeted 30%. Still, despite Monday’s stock performance, Twilio’s shares are not yet back to where they were prior to that drop, when they were at $34.39 on May 1. The company’s shares reached an all-time high of $70.96 in Sept. 2016. Twilio held its initial public offering in June 2016.
In addition to the improved revenue, Twilio has also attracted more customers so far this year compared to last. As of June 30, Twilio (TWLO) had 43,431 active customers, compared to last year’s 30,781—an increase of 41%. “Once again this quarter, we saw a large number of companies across a variety of industries place their trust in our platform,” said Jeff Lawson, Twilio’s co-founder and chief executive.
Twilio said it lost $7.1 million in the second quarter, somewhat better than the nearly $11 million in lost in the same quarter a year earlier.
While not a household name, Twilio is responsible for helping deliver a number of popular services. More than a million developers use its platform to integrate features into everything from Airbnb to WhatsApp. Last fall Twilio bought a software maker that can enable messaging features within augmented reality, according to Reuters—a hot area of tech that could soon grow even hotter with the release of Apple’s next iPhone.
