Twitter shares surge Tuesday after user growth tops forecast by wide margin
The social-media company reported first-quarter net income of $191 million, or 25 cents a share, up from $61 million, or 8 cents, a year earlier. Excluding a tax benefit, the company’s net income was $66 million, or 9 cents a share. Adjusted earnings per share rose to 37 cents from 16 cents a year earlier and came in above the FactSet consensus, which called for 15 cents in adjusted EPS.
The stock is up more than 8% in premarket trading. Shares of Twitter tend to make big swings after earnings, with the stock moving by a double-digit percentage following six of its prior 10 earnings reports.
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