Twitter Shares Climb After Earnings Beat Expectations
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Twitter shares went up as much as 13% after the company announced last Wednesday that it had exceeded revenue expectations.
Analysts had put the company’s first-quarter earnings and revenue at $608 million at 12 cents earning per share. However, Twitter revealed that it had earned $655 million, with 16 cents earnings per share. The microblogging giant also achieved 336 million monthly active users, as opposed to 334.2 million predicted by analysts.
It is said that the shift of ad budgets from television, as well as the growth from ad revenue mainly from China and Japan greatly contributed to the company’s profitability.
Source: CNBC