Twitter announced today that it brought in $250 million in revenue during the first quarter of 2014, up more than 118 percent from the same period a year ago. That beat expectations from the Thomson Reuters survey of financial analysts, who projected the company would bring in $241 million in quarterly revenue.
The company surprised analysts, reporting break-even earnings. That beat expectations of a loss of 3 cents a share, which is a positive sign for Twitter’s outlook on Wall Street.
“We had a very strong first quarter. Revenue growth accelerated on a year over year basis fueled by increased engagement and user growth,” Twitter CEO Dick Costolo said in a press release. “We also continue to rapidly increase our reach and scale.”
Twitter’s stock has taken a beating over the past several months, after its earnings report for the fourth quarter of 2013 showed slowing user growth. The company announced that it has 255 monthly active users, which is an increase of almost 6 percent over last quarter’s numbers. That’s slightly below Wall Street’s expectations of 257 monthly active users.
Although Twitter’s stock closed at $42.62 a share today ahead of its earnings report, the company’s share price has fallen more than 8 percent as of this report in after-hours trading.
Here’s a more detailed look at Twitter’s financials: