Twitter Rallies as User Count, Revenue Impress Wall Street
- Social-media company’s revenue reaches $787 million, up 18%
- Daily active users grow to 134 million, up from 126 million
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Twitter Inc. topped first-quarter sales projections and reported strong user growth, bolstered by changes to its social-media service that are drawing a wider audience of consumers and advertisers. The shares jumped the most in almost six months.
The San Francisco-based company reported $787 million in revenue, an 18 percent increase from the year-earlier period. Analysts, on average, estimated $775 million, according to data compiled by Bloomberg. The microblogging site also posted an increase in monetizable daily active users to 134 million, beating analyst predictions for about 128.4 million. That compares with 126 million in the fourth quarter.