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Twitter beats expectations and surges to small profit in its first earnings report

06
Feb
2014

Twitter beat expectations today in its first earnings report since going public in November, earning 2 cents per share on $242.7 million in revenues last quarter. Analysts had expected Twitter to lose 3 cents per share, according to consensus estimates gathered by Mark Mahaney at RBC Capital Markets. At the time of its initial public offering in November of 2013, Twitter was on pace to earn roughly $500 million in annual revenue and had booked losses of $69 million for the year. Twitter finished a great year with our strongest financial quarter to date, said Dick Costolo, Twitters CEO, in a statement accompanying the earnings report.

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