Microblogging platform Twitter, Inc. (NYSE: TWTR) Tuesday reported higher earnings and revenues for the final three months of fiscal 2020. The results also came in above the market’s expectations.
At $1.29 billion, fourth-quarter revenues were up 28% from last year and above experts’ consensus forecast.
The positive top-line performance resulted in a 52% increase in adjusted earnings to $0.38 per share. Wall Street had predicted a slower growth. Net income, excluding special items, moved up to $222.1 million or $0.27 per share from $118.7 million or $0.15 per share in the fourth quarter of 2019.
Read management/analysts’ comments on Twitter’s Q4 results
After recovering from multi-year lows early last year, Twitter shares maintained a steady uptrend and crossed the $60-mark this week — the first time in more than five years. It ended Tuesday’s trading higher.