Twitter shares jump on rise in user numbers, revenue
Shares in Twitter jumped Thursday after the social media company said revenue and user numbers exceeded forecasts in the latest quarter, though profit fell as expenses rose.
The San Francisco-based tech company said that fourth-quarter net income fell to $119 million, or 15 cents per share. That's down from $255 million, or 33 cents, in the same period a year earlier.
The short messaging service had revenue of $1.01 billion during the quarter, a 11% increase and the first time revenue surpassed $1 billion.
Chief Financial Officer Ned Segal called it a "new milestone" for revenue. He said performance was solid in most of the world, with particularly strong advertising revenue in the U.S.
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