Twitter Beats Revenue, User Growth Estimates; Shares Rally
- Daily average users grow 21% from a year ago to 152 million
- Social network cites product improvements for user, ad gains
This article is for subscribers only.
Twitter Inc. topped analysts’ projections for fourth-quarter revenue and added more new daily users than expected, citing product improvements and more personalized content on its social network. The shares rose the most in almost a year.
Revenue rose 11% to $1.01 billion, slightly higher than the $994.5 million predicted in a Bloomberg analyst survey. Twitter’s user growth was a bigger surprise. The company added 7 million daily active users in the period, and now has 152 million people logging in daily on average, up 21% from the same period a year earlier. Bloomberg Consensus estimates were for the company to finish 2019 with just 148.1 million total users.