Twitter says its fourth-quarter net income fell to $119 million from $255 million in the same period a year earlier
Twitter reported Thursday that profit fell in the latest quarter even as growth in revenue and user numbers exceeded forecasts.
The San Francisco-based tech company said that fourth-quarter net earnings fell to $119 million from $255 million in the same period a year earlier.
Net income came in at 15 cents per share. Adjusted for one-time gains and costs, earnings were 17 cents per share.
The short messaging service posted revenue of $1.01 billion in the period, 11% higher than a year ago , and the first time that it surpassed the $1 billion mark.
The company had 152 million daily users in the latest quarter, up from 145 million in the previous quarter.
While the net income figure was below analyst forecasts for $231 million, other figures cheered investors, sending shares up a sharp 8% in in premarket trading.
The sales figure was on the upper end of market expectations, according to data provider FactSet. And the number of active daily users was above the forecast for 147 million.
For the year as a whole, Twitter posted net income of $1.47 billion on revenue of $3.46 billion. For the current quarter, Twitter forecasts revenue to come in between $825 million and $885 million.