LOS ANGELES (CelebrityAccess) Twitter has exceeded Wall Street estimates, reporting modest user gains in the first quarter and better-than-expected revenues.
Analysts predicted earnings per share of 15 cents; Twitter far exceeded that with a 37 cent earnings per share. Revenue was expected to be $776.1 million; revenue, in fact, reached $787 million.
Twitter reported monthly active users, minus SMS users, of 330 million; analysts anticipated 318 million. The social network is expected to abandon this reporting for “monetizable daily active users,” according to Deadline. The shift comes after Twitter purged bot / fake accounts causing it to miss user estimates for two straight quarters.
“The health of the public conversation on Twitter remains our greatest priority, so people feel safe being a part of the conversation and are able to find credible information on our service,” the company said in its earnings release.
TWTR stock is up more than 7 percent in pre-market trading.