Twitter (TWTR) reported second-quarter results late Thursday that beat estimates on the top and bottom lines. Twitter stock jumped.
The company reported adjusted earnings of 20 cents per share on revenue of $1.19 billion. Analysts expected Twitter to report earnings of 7 cents on revenue of $1.06 billion. Revenue jumped 74% from the year-ago period. Advertising revenue totaled $1.05 billion, an increase of 87%.
Twitter stock jumped 4%, near 72.35, during after-hours trading on the stock market today.
It reported 206 million active daily users, in line with estimates.
For its third quarter, Twitter expects revenue in the range of $1.22 billion to $1.3 billion, above analyst estimates of $1.17 billion.
Twitter Stock: First Subscription Service Announced
Twitter recently announced the company’s first subscription service designed for power users willing to pay a monthly fee for exclusive features.
“As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent,” said Twitter Chief Executive Jack Dorsey, in prepared remarks with the earnings release.
Twitter stock is up 28% this year.
After rallying strongly off the coronavirus lows in March 2020, the social media play is now forming a deep double-bottom base and is closing in on a 73.32 buy point. For more Twitter stock analysis visit Leaderboard.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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