Twilio is the future of cloud computing, Cramer says

Brendan McDermid | Reuters

Jim Cramer said Tuesday that Twilio is the future of cloud computing as more companies use the service.

The maker of messaging and voice services reported Monday a second quarter adjusted loss of 8 cents per share, beating analysts estimates for a loss of 14 cents per share. It reported $64.5 million in revenue, topping analysts estimates of $58 million, according to Thomson Reuters estimates.

Cramer cited major companies that are already in Twilio's corner such as Home Depot, Nike, and The New York Times.

"They just got T-mobile. They're doing a lot of good stuff with them," Cramer said on CNBC's "Squawk on the Street." "And they're on Amazon. And they get a piece of every trade whether it be Facebook Messenger or Airbnb or a lot of others. They are the future of cloud computing."

Cramer also noted a prior conference call with Facebook CEO Mark Zuckerberg on the future of bots and artificial intelligence.

"That's Twilio. They get money in every message sent, every minute of phone traffic or authentication," he said.

In June, Twilio's IPO priced at $15 per share. On Tuesday, its stock traded at $42.53.


Correction: This story was revised to correct that Twilio's second-quarter earnings statement reported $64.5 million in revenue.