Twitter Trades Higher After Q1 Earnings Beat

Twitter Inc TWTR's stock traded higher Tuesday morning after the social media company posted a mixed quarterly earnings report.

First-quarter GAAP earnings came in at 9 cents per share while non-GAAP earnings were 37 cents per share versus the analyst estimate of 15 cents. Sales of $787 million beat the $775.23-million estimate.

The first-quarter's 330 million average monthly active users were lower than 336 million average MAUs in the first quarter of 2018.

The company sees second-quarter sales of $770 million-$830 million versus a $819.3-million estimate, as well as operating income of $35 million-$70 million.

See Also: Twitter Q1 Earnings Preview: What The Street Expects

Guggenheim expects investors to be anxious about Twitter's increased investments the company is making in 2019 and whether they will lead to higher sustained value.

Analysts, on average, have a Hold rating on Twitter, with an average price target of $33.56, according to the Yahoo Finance.

Twitter's stock traded higher by 5.8 percent to $36.44 per share at time of publication in Tuesday morning.