Shares in Twitter jumped nearly 30% Tuesday in after-hours trading and were still up more than 24% in pre-market trading Wednesday after the company’s second quarter results beat analyst expectations by a surprising margin.
Twitter posted revenues of $312 million, up 124%, and well above the $283 million expected by Wall Street. That marked the company’s fourth consecutive quarter of accelerating revenue growth. Twitter also earned $15 million, or 2 cents per share, versus an anticipated loss of 1 cent per share.
Ad revenues reached $277 million, up 129% from the year-ago period, its highest year-on-year growth in the category in the last six quarters.