Twitter shares were up as high as 13 percent before paring gains after the company reported revenue and earnings that beat expectations Wednesday.
Here are the first-quarter earnings and revenue versus analyst expectations:
- Earnings per share: 16 cents vs. 12 cents projected by a Thomson Reuters survey of analysts
- Revenue: $655 million vs. $608 million expected by the Reuters survey
- Monthly active users: 336 million vs 334.2 million expected by StreetAccount and FactSet
It was Twitter's second-straight profitable quarter. It also showed a profit in the fourth quarter. Revenue from the latest quarter was up 21 percent year over year, and the company expects to be profitable for 2018.
"Our message is really resonating [with advertisers]," Twitter CFO Ned Segal told CNBC. "Sentiment is much better, the ROI that they are seeing from their advertising on Twitter is much better based on lower cost per engagement and more ad engagement and more ad engagement, and that causes them to put more money onto the platform than they might have before."