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Twitter Q1 Profit Beats View


Micro-blogging site Twitter Inc. (TWTR) Tuesday reported a surge in its first-quarter profit. Both earnings and revenues beat analysts' estimates, sending shares up by 6 percent in the pre-market trading.

Average monthly active users or MAU were 330 million in the first-quarter, down from 336 million in the previous year, but up from 321 million in the prior quarter.

Average monetizable daily active users or mDAU were 134 million in the first-quarter, an increase from 120 million last year, and also up from 126 million in the preceding quarter.

This quarter marked the last in which the company will report the MAU metric. Instead, it will only report mDAU metric, saying it would better reflect its audience.

Twitter's first-quarter earnings rose to $190.80 million or $0.25 per share from $61.00 million or $0.08 per share last year.

Excluding the impact of a tax benefit of $124 million related to the establishment of a deferred tax asset for corporate structuring for certain geographies, earnings were $66.38 million or $0.09 per share for the latest-quarter.

Adjusted earnings per share were $0.37 compared to $0.16 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the period stood at $787 million, an increase of 18% year-over-year or 20% on a constant currency basis. Revenue, excluding foreign exchange effect, for the latest-quarter was $798 million. Analysts expected revenue of $775.23 million.

Advertising revenue totaled $679 million, an increase of 18% year-over-year or 20% on a constant currency basis.

For the second-quarter, the company expects operating income of $35 million - $70 million, and total revenue of $770 million - $830 million.

In the pre-market trade, TWTR is trading at $36.65, up $2.27 or 6.60 percent.

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