The stock price of Twitter Inc (NYSE:TWTR) skyrocketed after the popular microblogging company reported strong revenue and user growth for the second-quarter.
Twitter Inc (NYSE:TWTR) closed $38.59 per share, up by 1.79%. Following the release of its second-quarter financial results, the shares of the company went up further by more than 28% to $49.59 per share during after-hours.
Second-quarter financial results
During the second quarter, Twitter Inc (NYSE:TWTR) generated $312 million in revenue, an increase of 124% from $139.2 million in the year-ago quarter.
The microblogging company outperformed the $282.2 million in revenue estimated by Wall Street analysts.
Twitter Inc (NYSE:TWTR) reported that its net losses rose from $42.2 million to $144.6 million. Its adjusted EBITDA increased from $9.6 million to $54.1 million and non-GAAP earnings improved from -$0.12 per share to $0.12 per share.
Twitter Inc (NYSE:TWTR) said its monthly active users (MAUs) increased 24% to 271 million by the end of the quarter. Its mobile MAUs climbed 29% to 211 million. Its timeline views went up 15% to 173 billion.
In addition, the microblogging company said its advertising revenue per thousand timeline views increased 100% to $1.60 for the second-quarter.
In a statement, Twitter CEO Dick Costolo said, “Our strong financial and operating results for the second quarter show the continued momentum of our business. We remain focused on driving increased user growth and engagement, and by developing new product experiences, like the one we built around the World Cup. We believe we can extend Twitter’s appeal to an even broader audience.”
Separately, during the Twitter’s earnings conference call, Costola emphasized, “The size of our audience on our owned and operated properties is two to three times that of just our monthly active user base, which we believe ranks us among the top 10 largest digitally connected audiences in the world.”.
Commenting on the quarterly performance of the company, Scott Kessler, an analyst ast S&P Capital IQ said, “People who were negative on the company and on the stock now have reason to reconsider and re-evaluate. Twitter has momentum in its business.”