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Upbeat quarterly update lifts Twitter shares

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AFP

San Francisco (AFP) – Twitter on Thursday posted better-than-expected results for the recently ended quarter with gains in revenue, profit and its user base, sparking a rally in shares for the messaging platform. Net profit was $66 million on revenue that surged to $1.19 billion, beating Wall Street expectations. That compared to a loss of $1.38 billion in the same quarter a year earlier, according to the San Francisco-based tech firm. “Second-quarter revenue growth substantially exceeded estimates,” noted Third Bridge analyst Scott Kessler. The closely watched figure of “monetizable” daily us…

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