All eyes were on Twitter (NYSE:TWTR) after the market closed today, as the social-media giant reported its fiscal 2014 first-quarter earnings results. For its second earnings announcement as a publicly traded company, Twitter posted breakeven earnings per share, better than the $0.03 loss Wall Street was expecting. Revenue was $250 million in the quarter, up 119% from $114 million during the same period a year ago. That also topped analyst estimates for quarterly revenue of $241.5 million.
Perhaps, more importantly, Twitter said its average monthly users increased 25% to 255 million in the period. This is a key figure for the social-media company as it attempts to keep pace with fast growing rivals in the space, such as Facebook. Advertising revenue grew 125% year over year to $226 million in the quarter, while revenue from mobile advertising accounted for roughly 80% of that figure. "We now reach more than 1 billion iOS and Android users each month, making us one of the largest in-app mobile ad exchanges in the world and the only one at scale to offer native in-app advertising," said Dick Costolo, Twitter's chief executive.
However, the strong results weren't enough to lift the stock in after hours trading. Shares of Twitter were down nearly 10% at $42.62 per share as of 4:29 p.m. ET on the news.
Tamara Rutter has no position in any stocks mentioned. The Motley Fool recommends Twitter. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.