Twitter share price rallied by 16 percent following strong Q1 report
April 24, 2019 | Investopaper
Twitter share price surged by 15.6 percent on Tuesday after the company first-quarter earnings exceeded the expectations of the analysts. As a result, the market cap of the company increased by $4.1 billion in a single day.
According to the first quarterly report, the company revenue stands at $787 million. Similarly, the number of monthly active users excluding SMS users were reported to be 330 million which is more by 2 million expected in a FactSet consensus estimate.
The earnings per share of the company stand at 37 cents which was expected to be around 15 cents by the survey of analysts.
Lately, Twitter announced that the company will reduce the number of people one can follow in a day in order to control spam. Twitter reduced the number from 1000 to 400 in order to fight spam.
