Twitter Q4 Results Trump Wall Street View

(RTTNews) - Twitter Inc. (TWTR) Tuesday reported an increase in profit for the fourth quarter as revenues grew 28%. The social media giant's results trumped Wall Street estimates.

San Francisco, California-based Twitter's fourth-quarter profit rose to $222 million or $0.27 from $119 million or $0.15 per share last year.

Adjusted earnings for the quarter were $0.38 per share, up from $0.25 per share last year. On average, 25 analysts polled by Thomson Reuters estimated earnings of $0.31 per share.

Fourth-quarter revenues grew 28% to $1.29 billion from 1.01 billion last year. Analysts had a consensus revenue estimate of $1.19 billion for the quarter.

Average monetizable daily active Twitter user (mDAU) was 192 million for fourth quarter, compared to 152 million in the same period last year and compared to 187 million in the previous quarter.

Commenting on the results, CEO Jack Dorsey said, "We reported a 27% year-over-year increase in mDAU in Q4 2020, reaching an average of 192 million. Our product changes to date are promoting healthier conversations for those who use our service, including advertisers and partners, and we are excited about our plans to continue innovating in 2021."

Looking forward to the first quarter, Twitter expects revenues to be between $940 million and $1.04 billion. Analysts currently estimate revenues of $965.14 million.

TWTR closed Tuesday's trading at $59.88, up $1.68 or 2.89%, on the Nasdaq. The stock further gained $1.17 or 1.95%, in the after-hours trading.