Shares of Twilio (TWLO - Get Report)  were down more almost 7% after hours Wednesday after the cloud-based communications company reported second quarter results.

The San Francisco-based company reported second quarter revenue of $275 million, yielding earnings of 3 cents per share. Analysts were expecting revenue of $264 million and earnings of 3 cents per share. 

Twilio also provided third quarter revenue guidance of $289 million on earnings of 2 cents per share vs. Wall Street's expectations for revenue of $285.6 million on earnings of a penny per share. Shares of the highflying cloud company headed into earnings up more than 55% this year. 

"We celebrated a big milestone in the second quarter, crossing the $1 billion annualized revenue run rate," said CEO Jeff Lawson. "We see this as just the beginning, as we have the opportunity to change communications and customer engagement for decades to come. This is Day One and we're just getting started."

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Twilio is a key holding in Jim Cramer's Action Alerts PLUS charitable trust