Twilio stock continues to climb after rising expectations

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Jeff Lawson, co-founder and CEO of Twilio Inc., center, rings the opening bell on the floor of the New York Stock Exchange in New York City, September 17, 2018.Michael Nagle | Bloomberg | Getty Images

Shares of cloud communications firm Twilio rose more than 14% on Friday, extending gains by 10% after markets closed on Thursday night and hitting a new 52-week high.Twilio said in a filing Thursday that it expected more third-quarter revenue than the $ 401 million to $ 406 million range provided in August.

Analysts polled by Refinitiv expected third-quarter revenue of $ 407.9 million. This range implied growth of 36% to 38%, compared to 46% in the second quarter.

During Thursday’s Investor Day presentation, Twilio said it expects annual organic revenue growth of at least 30% in each of the next four years and an adjusted gross margin of 60% to 65%. on the long term.

Many cloud computing companies have seen gains this year as schools and businesses have had to rely on online software to keep people connected during coronavirus quarantines. With Friday’s pop, Twilio shares have risen more than 192% since the start of the year.

– CNBC’s Jordan Novet contributed to this report.

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