Twitter shares surged before the Tuesday stock market open after the social media giant posted higher first-quarter earnings and user growth, with financials beating analysts' expectations.
The San Francisco-based social media company, led by CEO Jack Dorsey, reported adjusted earnings of 37 cents per share, compared with the Wall Street consensus of 15 cents. Shares in Twitter were up by $2.71, or nearly 8 percent, to $37.10 in pre-market trading on the New York Stock Exchange.
Quarterly revenue of $787 million was up 18 percent, beating the consensus estimate for the 140-character messaging service of about $775 million. Total U.S. revenue rose 25 percent to $432 million, with international revenue at $355 million, up 11 percent.