Twitter Posts $1 Billion Quarter, As Shares Hits 52-Week High

Twitter Posts $1 Billion Quarter, As Shares Hits 52-Week High

Twitter Inc. on Tuesday posted its second-ever $1 billion quarter, sending its shares up nearly 4% in after-hours trading to a 52-week high.

Twitter TWTR, +2.87% reported net income of $222 million, or 29 cents a share, against expectations of 29 cents a share, according to analysts polled by FactSet. (Adjusted earnings were 38 cents a share.) Twitter’s revenue catapulted 28% to a record $1.29 billion, beating the consensus estimate of $1.18 billion.

“We delivered record revenue of $1.29 billion in Q4, up 28% year over year, reflecting better-than-expected performance across all major products and geographies,” Ned Segal, Twitter’s chief financial officer, said in a statement announcing the results.

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In a conference call with analysts late Wednesday, Twitter Chief Executive Jack Dorsey said he was “really proud of how we navigated 2020. We are a platform much larger than any topic.”

Monetizable daily active users (mDAUs), a key indicator of Twitter’s reach and its appeal to advertisers, improved 27%, year-over-year, to 192 million. Yet it fell short of the 193.5 million expected by analysts polled by FactSet, creating angst among investors. Twitter forecast mDAU growth of approximately 20% year-over-year in

the current first quarter.

The growth of mDAUs is significant in the wake of former President Donald Trump’s ouster last month from the microblogging platform, where he commanded one of its largest followings (nearly 89 million).

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