Twitter Jumps Most in a Year After Sales Top Estimates
- Quarterly revenue jumps 28% to $1.29 billion on digital ads
- User gains are seen decelerating from 2020’s robust pace
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Twitter Inc. jumped the most in a year after it reported fourth-quarter revenue that topped analysts’ estimates, capitalizing on a robust holiday season for digital advertising.
Revenue rose 28% to $1.29 billion, compared with the $1.19 billion average analyst prediction, according to data compiled by Bloomberg. Twitter on Tuesday cited “strong brand advertiser demand in the U.S.” as a driver of ad sales in the fourth quarter, according to the company’s shareholder letter. Net income rose to $222 million, or 27 cents a share.