Twitter (TWTR) reported better-than-expected second-quarter earnings after the bell on Tuesday, showing both revenue and user growth.
The social media service reported that it now has 271 million monthly active users, a 6% quarterly increase and a 24% yearly increase. Investors view the user growth trajectory as indicative of Twitter’s future success.
Revenue of $312 million was up 124% from the $139 million seen in the same quarter last year. Analysts surveyed by Thomson Reuters had been predicting $283 million in revenue.
"Our strong financial and operating results for the second quarter show the continued momentum of our business," Dick Costolo, CEO of Twitter, said in a release. "We remain focused on driving increased user growth and engagement.”