Tech: Twitter reports second profitable quarter in a row and beats expectations (TWTR)

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Twitter shares rose after it reported its Q1 earnings.

Twitter has reported its second profitable quarter in a row, as its Q1 2018 earnings beat Wall Street expectations.

Revenue hit $665 million in the first three months of 2018, a 21% increase on the same period last year. Average monthly active users stood at 336 million, an increase of 3% year-on-year.

The company's net income was $61 million, marking its second month of profitability. It is a turnaround from the loss of $62 million in the first three months of 2017.

Twitter CEO Jack Dorsey said it was a "strong start" to 2018. Twitter shares were up as high as 13% after publishing its earnings. Follow Twitter on Markets Insider.

Below are the key numbers in Twitter's Q1 earnings:

  • Earnings per share (adjusted) : $0.16
  • Revenue: $665 million
  • EBITDA: $244 million
  • Monthly active users: 336 million

Here were the Wall Steet analyst predictions seen by Business Insider:

  • Earnings per share (adjusted): $0.10-$0.12
  • Revenue: $603 million-$612 million
  • EBITDA: $203 million-$214 million
  • Monthly active users: 332 million-346 million

This story is developing.

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