Twitter shares are up a mind-boggling 28% in the wake of its earnings announcement.
This is no joke for a company with a massive $US22 billion market cap.
The company’s Q2 financial results beat expectations across the board. Revenue surged to $US312 million, beating expectations for $US283.9 million. Monthly active users jumped to 271 million, beating expectations for 267 million.
And amid all this, the company squeezed out an adjusted profit of $US0.02 per share. Analysts were looking for a $US0.01 loss.
Twitter closed at $US38.59 today after rallying 1.7% during the U.S. trading session.
Currently, shares are hovering at around $US49.
But the stock is far from its all-time high of $US74.73, which is saw in December.
Here’s the after-hours action via MarketWatch.com.