Safe, Twilio Inc. Jeff Law Law, co-founder and chief executive officer of, opens the opening bell on the floor of the New York Stock Exchange in New York on September 17, 2018.
Michael Nagley | Bloomberg | Getty Images
Shares of cloud communications company Twilio rose more than 14% on Friday morning, rising 10% after markets closed on Thursday evening and reaching a new 52-week high.
Twilio said in a filing Thursday that it expects third-quarter revenue in the range of 1 1,401 million to 40 6,406 million provided in the third gust.
Analysts, led by Refinitive, expected revenue of 40 7,407.9 million in the third quarter. The range indicated growth of 36% to 38%, down from 46% in the second quarter.
During Thursday’s Investor Day presentation, Twilight said it expects at least 30% organic annual revenue growth over the next four years and 60% to 65% adjusted gross margin over the long term.
Many cloud companies have seen gains this year as schools and companies have had to rely on software online to engage people during coronavirus quarantine. With Friday’s pop, shares of Twilio have risen more than 192% to date.
– CNBC’s Jordan Nowet contributed to this report.
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