Twitter shares up 7% after revenue and user numbers top targets
Twitter Inc. shares rose in premarket trading Friday after the social-media company beat expectations for its revenue and user growth, while falling short on profit.
The company posted net income of $1.12 billion, or $1.43 a share, compared with $100 million, or 13 cents a share, a year earlier. Adjusted EPS came in at 5 cents, compared with 8 cents in the year-ago quarter. Analysts surveyed by FactSet had been modeling 18 cents. The adjusted numbers exclude a “significant” income tax benefit that stems from the establishment of a deferred tax asset.
Twitter’s TWTR, -1.58% revenue for the quarter climbed to $841 million from $711 million and came in ahead of the FactSet consensus, which called for $829 million in revenue. The top-line number included $727 million in advertising revenue, up 21% from a year prior.The second quarter marked the first in which Twitter only reported its new preferred metric, monetizable daily active users, which increased by 5 million sequentially for the quarter.
Up until this point, Twitter had been posting a monthly-active-user count, which was on a less healthy trajectory.Emily Bary Emily Bary is a MarketWatch reporter based in New York.
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