RTTNews | Oct 1, 2020 05:12PM EDT

17:11 Thursday, October 1, 2020 (RTTNews.com) - Shares of Twilio Inc. (TWLO) jumped nearly 9% after the cloud communications company announced that it expects third-quarter revenues to exceed its prior guidance of $401 million to $406 million.

Analysts polled by Thomson Reuters currently expect revenues of $407.9 million for the third quarter.

Shares of cloud companies have recorded significant gains this year as the COVID-19 pandemic have forced schools and corporates to depend on cloud to keep connected during this critical period.

TWLO is currently trading at $256.96, up $9.87 or 3.99%, on the Nasdaq. The stock further gained $23.39 or 9.10% in the after-hours trading.

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