Twitter reported Q1 earnings today that crushed expectations. But is it worth buying? GibbsErin and Kantrowitz break it down.
Twitter's first-quarter earnings report crushed expectations, sending the stock surging more than 14% in early morning trading.
In the U.S., Twitter reported 28 million average mDAUs forthe first quarter, compared with 26 million a year earlier. It reported 105 million average international mDAUs for the first quarter, compared with 94 million a year earlier. Twitter's stock slid after its previous earnings report when it provided light guidance for the first quarter, but it is still up about 10% over the past 12 months. Twitter has been toying with the best way to optimize the experience on the platform for user well-being rather than purely based on engagement metrics. CEO Jack Dorsey told Rolling Stone in an interview published in January that his team has considered"what happens if we remove the 'like' counts from tweets.
"Generally, most of the people that have been testing the prototype app prefer it over the main Twitter production app," Dorsey said."So it's shown that we're heading in the right direction, but we still have some work to do before we feel confident that we should put it in production."
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