Twitter's fourth-quarter earnings missed estimates, but the stock soared in pre-market activity amid better-than-expected growth in the number of daily active users to 152 million and the social media giant's first $1 billion revenue quarter. Details:
Social media giant Twitter on Thursday reported fourth-quarter earnings and revenues, underpinned by improved growth as its number of daily active users rose 21 percent to reach 152 million, against a year-earlier 126 million, and up from 145 million users in the most recent quarter.
Quarterly revenue rose 11 percent to $1.01 billion, which beat a Wall Street estimate of $997.6 million. "We reached a new milestone in Q4 with quarterly revenue in excess of $1 billion, reflecting steady progress on revenue product and solid performance across major geographies, with particular strength in U.S. advertising," Ned Segal, Twitter's CFO, said in a statement.
Advertising revenue jumped 12 percent to $885 million. The U.S. revenue rose 17 percent to $591 million, while the international revenue totalled $416 million. Twitter said said late last year that it would stop accepting paid political advertisements and issue advertisements, unlike rival Facebook, which has attracted scrutiny for not fact-checking campaign ads.
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