Twitter posts stronger-than-expected Q2 results, shares jump

Twitter has posted stronger-than-expected earnings for the second quarter

Twitter on Thursday posted stronger-than-expected earnings for the second quarter thanks to growing advertising demand across all geographic regions and types of ad products.

The San Francisco-based company earned $65.6 million, or 8 cents per share, in the April-June quarter. That’s up from a loss of $1.38 billion, or $1.75 per share, a year earlier.

Revenue jumped 74% to $1.19 billion from $683.4 million, surpassing Wall Street’s expectations. Ad revenue in the U.S. alone nearly doubled.

Analysts, on average, were expecting of 7 cents per share and revenue of $1.07 billion, according to a poll by FactSet.

Twitter said it expects revenue between $1.22 billion and $1.3 billion for the current quarter. Analysts are forecasting $1.17 billion.

The number of daily users increased 11% to 206 million from a year earlier, in line with expectations.

Twitter’s shares jumped $5.86, or 8.4%, to 75.43 in after-hours trading. The stock had closed up 7 cents at $69.57.