Twitter: 2Q Earnings Snapshot
SAN FRANCISCO (AP) _ Twitter Inc. (TWTR) on Friday reported second-quarter earnings of $1.12 billion.
The San Francisco-based company said it had net income of $1.43 per share. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The short messaging service posted revenue of $841.4 million in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $828.5 million.
For the current quarter ending in October, Twitter said it expects revenue in the range of $815 million to $875 million. Analysts surveyed by Zacks had expected revenue of $821 million.
Twitter shares have increased 33% since the beginning of the year. The stock has decreased 14% in the last 12 months.