Shares of Twitter were up 25 percent after the company posted its first-ever profit for the fourth quarter of 2017.
Twitter reported GAAP earnings per share of $0.12 on revenue of $732 million, which beat analyst expectations of $686 million and was up 2 percent from last year. It’s the first quarterly profit for the social media network since it went public in late 2013.
User growth stayed flat from the previous quarter, though, at 330 million monthly active users, up 4 percent year-over-year. Daily active users were up 12 percent year-over-year (Twitter doesn’t provide a number for DAU).
“Q4 was a strong finish to the year,” Twitter CEO Jack Dorsey said in a statement. “We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double digit DAU growth. I’m proud of the steady progress we made in 2017, and confident in our path ahead.”