Twitter Post Solid Q1 Results but Outlook Sinks Stock
Like its bigger tech peers, Twitter posted stronger-than-expected results for the first quarter on Thursday.
From the Equity Insider archive. This article dates from May 2, 2021 and is preserved as first published.
Like its bigger tech peers, Twitter posted stronger-than-expected results for the first quarter on Thursday.
Like its bigger tech peers, Twitter posted stronger-than-expected results for the first quarter on Thursday. But its lukewarm outlook sent shares tumbling after hours.
The San Francisco-based company earned $68 million, or 8 cents per share, in the January-March period. That’s up from a loss of $8.4 million, or 1 cent per share, a year earlier.
The San Francisco-based company earned $68 million, or 8 cents per share, in the January-March period.
Revenue grew 28% to $1.04 billion. Analysts, on average, were expecting earnings of 14 cents per share on revenue of $1.03 billion, according to a poll by FactSet.
Twitter had 199 million daily users, on average, in the third quarter, up 20% year-over-year and slightly below the 200 million that analysts were expecting.
By comparison, Facebook had 1.88 billion daily users on average in March 2021, an increase of 8% year-over-year. Snapchat, meanwhile, had 280 million average daily active users in the first quarter.
Twitter does not disclose monthly user figures.
Twitter said it expects revenue between $980 million and $1.08 billion for the second quarter. The midpoint of that is below analysts’ expectations of $1.06 billion.
Twitter’s stock fell $5.81, or 8.9%, to $59.28 in after-hours trading.
