Twitter revenue beats estimates
CALIFORNIA – Twitter Inc reported better-than-expected quarterly revenue as the micro-blogging website operator’s push to boost advertising income paid off.
Revenue rose 38 percent to $502.4 million.
The company’s net loss narrowed to $136.7 million, or 21 cents per share, in the second quarter ended June 30 from $144.6 million, or 24 cents per share, a year earlier.
Excluding items, Twitter earned 7 cents per share.
Analysts on average had expected Twitter to earn 4 cents per share on revenue of $481.3 million, according to Thomson Reuters I/B/E/S.
Twitter’s shares rose 3 percent in extended trading on Tuesday. -Reuters