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.