Twitter shares rose after it reported its Q1 earnings.
Twitter has reported its second profitable quarter in a row, as its Q1 2018 earnings beat Wall Street expectations.
Revenue hit $665 million in the first three months of 2018, a 21% increase on the same period last year. Average monthly active users stood at 336 million, an increase of 3% year-on-year.
The company’s net income was $61 million, marking its second month of profitability. It is a turnaround from the loss of $62 million in the first three months of 2017.
Twitter CEO Jack Dorsey said it was a “strong start” to 2018. Twitter shares were up as high as 13% after publishing its earnings. Follow Twitter on Markets Insider.
Below are the key numbers in Twitter’s Q1 earnings:
Earnings per share (adjusted) : $0.16
Revenue: $665 million
EBITDA: $244 million
Monthly active users: 336 million
Here were the Wall Steet analyst predictions seen by Business Insider:
Earnings per share (adjusted): $0.10-$0.12
Revenue: $603 million-$612 million
EBITDA: $203 million-$214 million
Monthly active users: 332 million-346 million
This story is developing.
Tech: Twitter reports second profitable quarter in a row and beats expectations (TWTR)
