Investing.com – Twitter Inc (NYSE:TWTR) rallied more than 10% on Wednesday, after the social media company reported first quarter earnings that beat estimates on both the top and bottom line for the first time in several quarters.
Twitter posted earnings-per-share of 11 cents and revenue of $548 million compared to expectations of EPS of 1 cent and $511.9 million of revenue.
The social media company ramped-up active monthly user growth in the first quarter to 328 million, which was well above expectations of 7 million and 9 million more than the previous quarter.
The ramp-up in active monthly users came amid efforts by Twitter CEO, Jack Dorsey, to improve the user experience and keep people more engaged.
"We're proud to report accelerating growth in daily active usage for the fourth consecutive quarter, up 14 percent year-over-year," Jack Dorsey said.
Meanwhile, forward guidance for the second quarter of the year, fell short of analysts’ expectations.
Twitter estimated second quarter earnings in the range of $95 million and $115 million, below analysts' forecast of $141 million.
Shares of twitter traded at $15.97, up 8.97%.