Twilio Inc (NYSE: TWLO) cautioned investors in May that one of its biggest clients, Uber, is scaling back its relationship. The company's announcement sent the stock tumbling as Uber alone contributed 12 percent of its total revenue in the first quarter. However, Twilio's second-quarter earnings report signals that the impact of its loss to Uber is receding and the company appears to have reduced its reliance on the ride-hailing company, Argus' Jim Kelleher noted in a research report. Specifically, Uber's business contributed 9 percent of revenue in the second quarter, and the contribution will likely move lower to a mid-single digit over time.Read more