Thursday, December 7News That Matters

Twitter posts strong Q4 results as user base, revenue jumps

Twitter posted solid results for the last three months of 2020, capping what CEO Jack Dorsey called “an extraordinary year” for the platform

The San Francisco-based company earned $ 222.1 million, or 27 cents per share, in the October-December period. That’s up 87% from $ 118.8 million, or 15 cents per share, a year earlier.

Revenue grew 28% to $ 1.29 billion from $ 1 billion. Analysts, on average, were expecting earnings of 29 cents per share and revenue of $ 1.18 billion, according to a poll by FactSet.

Twitter said it expects 2021 revenue to grow faster than expenses — meaning it would turn a profit — but did not give more specific guidance. And that’s assuming the coronavirus pandemic continues to improve and the company sees a “modest” effect from new privacy changes associated with Apple’s iOS 14.

Twitter’s shares climbed $ 1.23, or 2%, to $ 61.10 in after-hours trading after the results came out. The stock had closed up $ 1.71, or 2.9%, at $ 59.87.

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ABC News: Technology

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