Read on: Deadline
Twitter, which was founded in 2006, reported its first quarterly profit this morning. The news sent shares soaring more than 20% in pre-market trading.
On a per-share basis, net income for the fiscal fourth quarter came in at 12 cents, compared with a 23-cent loss per share in the same period a year ago.
Twitter’s stock on Wednesday spiked almost 7% in the wake of social-media peer Snap Inc.’s strong quarterly numbers and optimism about Twitter’s quarterly results.