Adjusted EBITDA rose to United States dollars 308 million from 215 million.
An analyst at a small research firm told his clients Twitter shares have gone up way too far.
Twitter was founded in March 2006-almost 12 years ago.
Twitter first announced that it was expanding the tweet limit to 280 characters for a select number of users in September 2017. Daily active usage grew 12% year-over-year, however.
Dow tumbles more than 4% as US stock losses deepen
IRobot, which makes Roomba vacuums, plummeted 30 percent after projected a smaller annual profit than Wall Street was expecting. Industrial companies and banks are rising while technology companies decline and energy firms slump along with oil prices .
The social messaging app has been trying to improve its user experience and keep people more engaged. That raised clickthrough rates, or the ratio of users who click on a specific ad to the number that view it. Breaking down the revenue, advertising was the biggest contribution here, to no surprise. The business had revenue of $731.60 million for the quarter, compared to the consensus estimate of $686.12 million. Twitter said its slow user growth could be a result of its recent crackdown on fake accounts.
Twitter delivered the first profitable quarter in its almost 12-year history - although it failed to increase its total monthly user base in the period.
Hitting its first ever profitable quarter is clearly notable news not just for Twitter but for Wall Street too, with the company's shares soaring more than 20 percent in pre-market trading. Adjusted earning per share were 19 cents. For the full year, TWTR expects capital expenditures to be between $375 million and $450 million.
But analysts were split on what lies ahead for the company.
Congress Working To Avoid Government Shutdown
The bipartisan compromise would provide the Pentagon and domestic programs with an extra $300 billion over the next two years. Schumer called the budget "An historic, bipartisan budget deal " that will increase federal investments in NY .
Twitter's stock - up 10 percent this year - has been outperforming Facebook's (NASDAQ: FB) since the start of 2018. Annual EPS Growth of past 5 years is -13.50%. "This is all about really looking at the potential of revenue growth as they scale and leverage their cost structure", he said.
The social media stalwart is also dealing with the fallout of a New York Times investigation which found that a company called Devumi had sold millions of fake followers to celebrities, athletes and politicians. On a sour note, US revenue decreased 8% to $406 million, however, worldwide revenue gained 17% to $326 million. Twitter COO Anthony Noto recently left to become the chief executive of SoFi.
"We're seeing less abandonment of tweets, but we're also seeing a lot more engagement", Dorsey said.
Twitter shares were up 18 percent this morning after the earnings report was released. Even before today's report, the company's stock price had been rising. Vetr cut Twitter from a "strong-buy" rating to a "buy" rating and set a $24.17 price objective for the company.in a research note on Tuesday, November 21st.
What it means that stocks are in a 'correction'
On Monday, the Dow plummet almost 1,600 points briefly in late trading, marking the worst intraday fall in market history. Benchmark 10-year notes US10YT=RR last fell 3/32 in price to yield 2.8054 percent, from 2.794 percent late on Monday.
- Kim's sister, South Korean leader Moon to meet at Olympics opener
- Dow plummets more than 1000 points, its second-worst trading day ever
- United States government shuts down for second time
- Josh McDaniels' agent quits after being stunned by decision
- Pentagon weighing options for United States military parade - Mattis
- Pentagon evaluating dates for military parade in Washington at Trump's request
- US Should Be Proud of How Far South Korea Has Come
- LeBron James: I Would Never Waive My No-Trade Clause
- SpaceX's Falcon Heavy launch in pictures
- Americans Are Tuning in to Winter Olympics