Twitter Flies Higher Following Q1 Earnings Beat

Shares of Twitter Inc TWTR were trading higher by more than 11 percent early Wednesday morning after the social media company reported its first quarter results.

Twitter said it earned $0.11 per share in the first quarter on revenue of $548.25 million; Analysts were expecting the company to earn one cent per share on revenue of $511.91 million.

Non-GAAP net income for the quarter fell 20 percent from a year ago to $82 million, while adjusted EBITDA fell 6 percent to $170 million and the company reported an adjusted EBITDA margin of 31 percent.

Here are some of the notable highlights from Twitter's first quarter:

• Daily active usage (DAU) rose 14 percent year-over-year which marked the fourth consecutive quarter of growth.
• Total monthly active users (MAU) rose nine million from a quarter ago to 328 million.
• But revenue of $548.25 million marks a decrease of 8 percent from a year ago.
• Total advertising revenue fell 11 percent a year ago to $474 million.
• Data licensing and other revenue rose 17 percent from a year ago to $74 million.
• By region, revenue in the U.S. fell 13 percent from a year ago to $341 million.
• International revenue rose 2 percent to $208 million.
• Total ad engagements rose 139 percent from a year ago.
• Cost per engagement (CPE) fell 63 percent from a year ago.

The stock traded recently at $16.28, up 10.9 percent in the pre-market session.

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