Twitter on Thursday posted stronger-than-expected earnings for the second quarter thanks to growing advertising demand across all geographic regions and types of ad products.
The San Francisco-based company earned $65.6 million, or 8 cents per share, in the April-June quarter. That’s up from a loss of $1.38 billion, or $1.75 per share, a year earlier.
Revenue jumped 74% to $1.19 billion from $683.4 million, surpassing Wall Street’s expectations. Ad revenue in the U.S. alone nearly doubled.
Analysts, on average, were expecting of 7 cents per share and revenue of $1.07 billion, according to a poll by FactSet.
Twitter said it expects revenue between $1.22 billion and $1.3 billion for the current quarter. Analysts are forecasting $1.17 billion.
The number of daily users increased 11% to 206 million from a year earlier, in line with expectations.
Twitter’s shares jumped $5.86, or 8.4%, to 75.43 in after-hours trading. The stock had closed up 7 cents at $69.57.
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Source: News18