First-quarter revenue rose 21% to $664.9m (£476m), beating analysts' expectations, and ad revenue also soared 21% to $575m (£412m), the company said.
Total ad engagements for the company increased 69% year-over-year, resulting from increased aggregate demand, continuing mix shift toward video ad impressions, and improved CTR, which grew on a year-over-year basis across the majority of ad types as ad relevance continues to improve.
Analysts expected Twitter had added 5 million monthly users in the quarter, according to FactSet. Advertising revenue coming from the USA and the rest of the world is split right down the middle - Twitter makes $287 million from global advertising, while making $286 in the U.S.
Twitter lags behind Facebook and Google for users but it has been attempting to engage them with video and sports highlights. The company has pointed to strong growth in Asia. However, Twitter's 80-day moving average has emerged as a floor over this same time frame, and is located right at the stock's intraday low and a 38.2% Fibonacci retracement of its rally from late October to its almost two-year high of $38.80.
That's surprisingly good from a business perspective.
The company focused on making Twitter easier to use with the launch of a new Bookmarks feature and video timestamps, as well as making it easier for users to follow topics, interests and events, including curated timelines of tweets around breaking news events. What's more, J.P. Morgan Securities said TWTR is a favorite small-cap stock, and waxed optimistic on impressive daily user growth.
Twitter has spend the past few years expanding its video advertising infrastructure while also inking a number of high-profile content deals that help get its ads in front of more eyeballs.
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While Twitter is not of the size of Facebook, this growth has catapulted the former to larger aspirations.
Dorsey talked about Twitter's Fox Sports collaboration on the 2018 FIFA World Cup tournament in June, and how Twitter users will be able to see - and share - every single goal.
Twitter reported its second consecutive quarterly profit Wednesday, boosting the outlook for the messaging platform after years in the red.
"Twitter is still in rebuilding credibility mode with investors and advertisers, so it's important they keep demonstrating momentum relative to expectations", said Richard Greenfield, an analyst at BTIG. The company expects to be GAAP profitable for the full year 2018, it said in a release. Finally, Peregrine Asset Advisers Inc. bought a new position in Twitter in the fourth quarter valued at about $2,723,000.
Twitter is impeccable in the live feed of information and sought to specialize in "whats happening now". Twitter said ad revenue was nearly evenly split between its USA and worldwide markets, with $288 million in ad sales coming from the US and $287 million from other regions.
For the three months ended March 31, Twitter earned $61 million, or 8 cents per share. Profit excluding some costs was 16 cents a share, exceeding estimates for 12 cents.