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Investing.com — Twitter Inc (NYSE:TWTR) shares jumped nearly 8% on Wednesday after better-than-expected earnings.
The company reported Tuesday night. Earnings per share of 38 cents on an adjusted basis beat the 31 cents forecasted by analysts. Revenue also beat, at $1.29 billion versus the Street’s expected $1.19 billion.
Monetizable daily active users came n at 192 million while analysts expected 193.5 million. Twitter famously cut off former President Donald Trump last month, banning him from posting.
Twitter raised guidance, saying it expects to see its revenue in the current quarter between $940 million and $1.04 billion. The middle of that range is higher than the $965 million expected by analysts.
Goldman Sachs (NYSE:GS) analyst Heath Terry reiterated a buy rating and raised the price target to $78.00 from $55.00. The new target implies 21% upside from the current price.
