Twitter topped analyst expectations on Tuesday, when the company reported $250 million in revenue and an EPS of $0.00, seeing no earnings or losses per share.
Analysts predicted revenue of $241.5 million and a $0.03 loss per share.
Monthly active users for Q1 were 255 million, lower than what some experts predicted. Perhaps that is why Twitter’s stock is trading down after the news was announced. At the time of this writing, Twitter was trading down 9 percent.
Adjusted Q1 EBITDA was $37 million. Net Income was $183,000. Advertising revenue totaled $226 million, 80 percent of which was from mobile.
“We had a very strong first quarter. Revenue growth accelerated on a year over year basis fueled by increased engagement and user growth,” said Dick Costolo, CEO of Twitter. “We also continue to rapidly increase our reach and scale. With the integration of MoPub, we now reach more than 1 billion iOS and Android users each month, making us one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising.”
Later, on the earnings conference call, Costolo said that he was very pleased with the social media website’s redesign. He added that users will soon begin to see more changes and improvements in areas of content and innovating direct messages.
In terms of stock, no second public offering is coming, a Twitter exec said. That decision was made because the company got the indication that its shareholders are not looking to sell anytime soon.
Costolo also boasted about the service’s success surrounding the Oscars, when host Ellen DeGeneres shattered the retweet record.
Twitter also had the Super Bowl, Olympics and Grammys helping out the last quarter.