twitter-s1Twitter shares are up more than 30 percent in after-hours trading after the social media giant posted better-than-expected second quarter earnings.

Twitter beat Wall Street’s predictions for both revenue ($312 million, up 24 percent year-over-year) and earnings per share ($0.02). Analysts expected revenue of $283 million and an earnings per share of -$0.01.

The company also reported 271 million monthly active users, up 24 percent from this time last year and up 16 million users from the first quarter.

Twitter, which now employs about 3,330, also saw increases with its monthly mobile users, which now sits at 211 million, up 29 percent from last year.

“Our strong financial and operating results for the second quarter show the continued momentum of our business,” CEO Dick Costolo said in a statement. “We remain focused on driving increased user growth and engagement, and by developing new product experiences, like the one we built around the World Cup, we believe we can extend Twitter’s appeal to an even broader audience.”

As a result, Twitter’s shares surged on Tuesday afternoon. It’s a nice bounce back for a company that saw its stock price drop nearly 40 percent from the beginning of 2014, just months after it went public this past November.

twitterstock21Related: Facebook earnings beat expectations as Q2 revenue skyrockets to nearly $3 billion

 

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