Twitter post solid Q1 results but outlook sinks stock

Twitter post solid Q1 results but outlook sinks stock

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

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.

Revenue grew 28% to $1.04 billion. Analysts, on average, were expecting a loss of 2 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.

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.

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This story has been corrected to use a comparable FactSet estimate of a two cent per share loss, according to generally accepted accounting principles.