Twitter Posts Strong Sales, Forecast on Bounce Back in Ads
- Company revenue jumps 74% after a weak second quarter in 2020
- Sales forecast in the current quarter tops analysts’ estimates
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Twitter Inc. reported second-quarter sales that topped analysts’ estimates, and gave a forecast for the current quarter that exceeded expectations amid global events such as the Olympics that drive advertising. Shares jumped about 5% in extended trading.
Revenue will be from $1.22 billion to $1.3 billion in the period ending in September, the San Francisco-based company said Thursday in a statement. Analysts, on average, projected $1.17 billion, according to data compiled by Bloomberg. Second-quarter sales jumped 74% to $1.19 billion from a year earlier, compared with analysts’ estimates of $1.06 billion.