Twitter Third-Quarter Earnings, Revenue Beat Expectations

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Twitter

Twitter on Thursday beat analysts' expectations for earnings per share in its third quarter before the opening bell, and surpassed revenue estimates. Stock in Twitter rose $1.54, or around 9 percent, to $18.68 in pre-market trading.

The San Francisco-based social media company, led by CEO Jack Dorsey, reported adjusted earnings of 10 cents per share on revenue of $590 million, beating an analyst forecast of $586.7 million.

Analysts expected Twitter, the 140-character messaging service often used by U.S. President Donald Trump, to report 6 cents per-share in adjusted earnings, which the company beat by 4 cents.

Twitter saw its daily active user growth, a key metric for any social media company, rise by 14 percent. The social messaging app has been trying to improve its user experience and keep people more engaged.

The social media giant is also testing doubling its character limit from 140 characters to 280 characters, a move meant to explore whether people are able to better express themselves on the platform when they aren't limited by space.

The company's number of total monthly users, at 330 million for the quarter, returned to growth, after shrinking in the fourth quarter. Analysts had forecast 330.4 million monthly active users.

This article was originally published by The Hollywood Reporter.