Twitter says its revenue jumped 28% in the fiscal fourth quarter.

Twitter Inc. (NYSE: TWTR) published its earnings report for the fiscal fourth quarter on Tuesday that came in better than what analysts had anticipated. Shares of the company jumped to a 52-week high in extended trading on Tuesday.

Twitter shares were reported more than 4% up in extended trading. The stock is now trading at a per-share price of £45.09. In comparison, it had plummeted to as low as £15.92 per share in March 2020 when the impact of the Coronavirus pandemic was at its peak.

Affiliate Marketing

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

The COVID-19 crisis has so far infected more than 27 million people in the United States and caused a little under half a million deaths.

Twitter’s Q4 financial results versus analysts’ estimates

Twitter said that its net income in the fourth quarter printed at £160.67 million that translates to 20.99 pence per share. On an adjusted basis, the social media giant earned 27.50 pence per share in Q4. Twitter said in an announcement last month that it was acquiring newsletter publishing company, Revue.

Twitter said that it generated £930 million of revenue in the recent quarter that represents a 28% annualised growth. According to FactSet, experts had forecast the microblogging firm to post £850 million of revenue in the fourth quarter. Their estimate for per-share earnings was capped at a lower 20.99 pence per share. In comparison, Twitter had registered £725.31 million of revenue in the prior quarter (Q3).

Twitter noted 192 million monetisable daily active users (MDAUs) in Q4 – a 27% increase from last year. FactSet Consensus for MDAUs, however, stood at an even higher 193.5 million. At £830 million, Twitter’s ad revenue saw a 31% annualised growth in the fourth quarter. Total ad engagement, as per the NYSE-listed company jumped 35% in the recent quarter.

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice,

visit & create account

Twitter’s guidance for the fiscal first quarter

For the fiscal first quarter, the San Francisco-based company now forecasts its revenue to fall in the range of £680.33 million to £750 million. CFO Ned Segal commented on the financial report on Tuesday and said:

“We delivered record revenue of £930 million in Q4, up 28% year over year, reflecting better than expected performance across all major products and geographies.”

Twitter performed largely upbeat in the stock market last year with an annual gain of close to 60%. At the time of writing, the social networking service has a market capitalisation of £34.46 billion.

Source link