Twitter Inc (NYSE: TWTR) is having an incredible day in the market today, and for good reason. Investors seem to have finally gotten what they’ve been waiting for in terms of earnings and user growth. As a result, the stock is headed skyward, prompting our partners at Trade Ideas to alert us to the movement. At the moment (10:27), TWTR is trading at $16.26 per share after a gain of $1.58 per share or 10.80% thus far today.
TWTR Beats On Earnings And Produces User Growth
As mentioned above, Twitter is having a strong day in the market today, and for good reason. The company released its earnings report, finally giving investors what they’ve been waiting for. Ultimately, that’s user growth. Through the report, investors learned that TWTR pulled in average monthly active users in the amount of 328 million in the first quarter. That represents a 6% incrfease on a year over year basis and a gain of 9 million monthly active users on a quarter over quarter basis. Considering that user growth has been a primary source of concern, this is overwhelmingly positive news.
On the earnings side of the coin, TWTR produced adjusted earnings per share in the amount of $0.11. This came in above the FactSet consensus estimate of $0.02. Revenue also proved to be a big hit, coming in at $548 million. The FactSet consensus on Twitter revenue was $517 million.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TWTR. In particular, we’re interested to see if the company can keep the growth coming. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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