Twitter Shares Soar AFter Hours After Top-Line Beat & Raise
Twitter TWTR shares are soaring after hours as revenue growth rose far more than expected, up 74% YoY (the fastest since 2014) to $1.19 billion (vs $1.06 billion consensus).
That revenue was split:
- Advertising rev. $1.05 billion, +87% y/y, estimate $927.2 million
- Data Licensing and Other revenue $137 million, +13% y/y, estimate $134.6 million
Additionally, Twitter raised its Q3 estimates from $1.17billion to between $1.22 billion and $1.30 billion.
The reaction was euphoric as TWTR shares rose around 10% after hours...
(Click on image to enlarge)
One of the main items investors have been focused on is DAUs, which met expectations (Average Monetizable DAU 206M, Est. 205.9M).
That means Twitter added 7 million new users in the second quarter, the same as Twitter added in Q1.
AS Bloomberg’s Kurt Wagner notes: "The numbers suggest the company is growing after a chaotic year that included the pandemic and a U.S. election that ultimately led Twitter to permanently suspend then-President Donald Trump."
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