Shares of Twitter Inc TWTR were trading higher by more than 11 percent early Wednesday morning after the social media company reported its first quarter results.
Twitter said it earned $0.11 per share in the first quarter on revenue of $548.25 million; Analysts were expecting the company to earn one cent per share on revenue of $511.91 million.
Non-GAAP net income for the quarter fell 20 percent from a year ago to $82 million, while adjusted EBITDA fell 6 percent to $170 million and the company reported an adjusted EBITDA margin of 31 percent.
Here are some of the notable highlights from Twitter's first quarter:
- Daily active usage (DAU) rose 14 percent year-over-year which marked the fourth consecutive quarter of growth.
- Total monthly active users (MAU) rose nine million from a quarter ago to 328 million.
- But revenue of $548.25 million marks a decrease of 8 percent from a year ago.
- Total advertising revenue fell 11 percent a year ago to $474 million.
- Data licensing and other revenue rose 17 percent from a year ago to $74 million.
- By region, revenue in the U.S. fell 13 percent from a year ago to $341 million.
- International revenue rose 2 percent to $208 million.
- Total ad engagements rose 139 percent from a year ago.
- Cost per engagement (CPE) fell 63 percent from a year ago.
The stock traded recently at $16.28, up 10.9 percent in the pre-market session.
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