Twilio Shakes Off Uber Hangover, Jumps 12% After Earnings Beat

Twilio Inc. recovered from the loss of Uber Technologies Inc., one of its biggest customers, to produce better financial performance than expected in the second quarter, and shares roared 12% higher in late trading Monday. The cloud-communications company reported a net loss of $7.1 million, or 8 cents a share, on revenue of $95.9 million, an improvement from a loss of 45 cents a share on sales of $64.5 million a year before. After adjustments for stock-based compensation and other effects, Twilio claimed a loss of 5 cents a share. Twilio beat its own estimates, which called for an adjusted loss of 10 to 11 cents a share, and analyst projections, which were for an adjusted loss of 11 cents a share on revenue of $86.2 million on average, according to FactSet. Twilio suffered after its previous earnings report, which included a weak forecast after the loss of Uber, which accounted for 12% of the company's revenue but chose to move some of the functions for which it relied on Twilio into the company's own operations. After topping that weak forecast, Twilio shares topped $34 in late trading, after closing with a 4.6% gain at $30.53.