The Twilio stock continues to rise after making the forecast.

The Twilio stock continues to rise after making the forecast.

Twilio Inc. Center’s co-founder and CEO Jeff Lawson rings the opening bell on the floor of the New York Stock Exchange in New York on September 17, 2018.

Michael Nagle | Bloomberg | Getty images

The share price of cloud communications company Twilio rose more than 14% on Friday. 10% increase after market close on Thursday evening It hit a 52-week high.

Twilio on Thursday Said in the papers We expect third-quarter revenue to be higher than in the $410 million to $460 million range. offer August.

According to a poll by Refinitiv, sales for the third quarter were expected to be $47.9 million. That range meant growth from 36% to 38%, which will decrease from 46% in the second quarter.

In Thursday’s Investor’s Day presentation, Twilio said he expects organic annual returns to increase by at least 30% over the next four years and a long-term adjusted gross margin increase from 60% to 65%.

Many cloud companies have benefited this year because schools and companies had to rely on online software to connect people during coronavirus quarantine. With Friday’s pop, Twilio stock has risen by more than 192% so far.

-CNBC’s Jordan Novet contributed to this report.

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