What happened

Shares of cloud-based communications expert Twilio (NYSE:TWLO) rose as much as 13.8% on Tuesday morning, driven by a strong second-quarter earnings report and equally solid next-period guidance.

So what

Twilio reported an adjusted net loss of $0.05 per share and top-line sales of $95.9 million. Analysts would have settled for a $0.11 loss per share on revenue near $84 million. Looking ahead, the maker of cloud-computing software tools for corporate clients set third-quarter targets ahead of the current Street view and increased its full-year guidance projections across the board.

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Image source: Getty Images.

Now what

Largest customer Uber continued to distance itself from Twilio, focusing instead on working up its own in-house alternatives. Uber accounted for just 9% of Twilio's sales in the second quarter, down from roughly 12% in each of the last two quarters. Converting those figures to plain dollars, Uber sales held steady year over year while Twilio built new business elsewhere. Twilio's base revenues rose 55% year over year, or 65% if you exclude the Uber component. Overall, the 10 largest customer accounts added up to 21% of Twilio's total sales.

Twilio's operating model is expanding rapidly across a large number of smaller clients. The company added more than 2,700 new accounts in the second quarter, for a grand total of 43,400 active customers.

So, this was a strong report. Twilio's share prices are surging for all the right reasons today.

Anders Bylund has no position in any stocks mentioned. The Motley Fool recommends Twilio. The Motley Fool has a disclosure policy.