Microblogging platform Twitter, Inc. (NYSE: TWTR) Thursday reported a profit for the second quarter of fiscal 2021, compared to a loss last year. Both earnings and revenue came in above the market’s expectations.
At $1.19 billion, second-quarter revenues were up 74% from last year and above experts’ consensus forecast.
Supported by the positive top-line performance, the company turned to a profit of $0.20 per share in the most recent quarter — on an adjusted basis — from a loss of $1.58 per share in the year-ago quarter. Wall Street had predicted a smaller bottom line number. Net income was $65.6 million or $0.08 per share, compared to a loss of $1.38 billion or $1.75 per share in the second quarter of 2020.
Twitter shares ended Thursday’s regular trading higher and continued to gain during the extended session soon after the earnings announcement.
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