Twitter’s (NYSE: TWTR) first-quarter earnings report crushed expectations, propelling the stock in Tuesday trading.
The pop is set to add around $1.8 billion to Twitter’s market cap, bringing it over $28 billion.
Earnings per share proved an adjusted 37 cents vs. 15 cents expected in a survey of analysts. Revenues registered at $787 million vs. $776.1 million expected. Monthly active users, excluding SMS users: 330 million vs. 318 million expected in a consensus estimate of experts.
This quarter will be the last for which Twitter reports monthly active users (MAUs), the company announced during its last earnings report. As a replacement, Twitter began to report what it calls monetizable daily active users (mDAUs) last quarter, which it said would better reflect its audience.
In the U.S., Twitter reported 28 million average mDAUs forthe first quarter, compared with 26 million a year earlier. It reported 105 million average international mDAUs for the first quarter, compared with 94 million a year earlier.
Twitter forecast second-quarter revenue of $770 million to $830 million, compared with analyst estimates of $783.9 million to $853.6 million in the survey. The company reiterated its announcement from last quarter that it expects cash operating expenses to increase about 20% year over year in 2019 as it continues to invest in “health, conversation, revenue product and sales, and platform.”
Twitter’s stock slid after its previous earnings report when it provided light guidance for the first quarter, but it is still up about 10% over the past 12 months.
Those shares leaped $4.08, or 11.9%, to $38.45
