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Twitter headquarters, San Francisco. Photo by Justin Sullivan/Getty Images

Twitter's stock rose to near-record highs Tuesday after beating Wall Street estimates on top and bottom lines but failing slightly to meet expectations on user growth for the quarter.

Yes, but: Overall, Twitter still posted significant user gains in 2020, which the company attributes to the "global conversation around current events and ongoing product improvements."

  • Twitter says it now has 192 million monetizable daily active users (mDAU), up 27% year over year.

By the numbers, per CNBC:

  • Earnings per share: 38 cents, adjusted, vs. 31 cents forecast by Refinitiv
  • Revenue: $1.29 billion vs. $1.19 billion forecast by Refinitiv
  • mDAUs: 192 million vs. 193.5 million expected, according to StreetAccount

The big picture: Twitter posted noticeably strong revenue gains, bringing in over $1 billion in the fourth quarter.

  • The company attributed higher revenue to better-than-expected profits. It says improvements to its ad products resulted in a 31% year-over-year increase in total ad revenue.

Of note: Like rivals Facebook and Snapchat, Twitter did warn that it could experience advertising-related headwinds due to upcoming privacy changes being rolled out with Apple's iOS 14 update.

What to watch Analysts will looking to understand whether banning former President Trump, who had been one of Twitter's most popular and prolific users, will impact the tech giant's user growth this upcoming quarter. Twitter says so far it hasn’t.

  • Twitter is forecasting that it will grow headcount by more than 20% in 2021, especially in engineering, product, design, and research, which it anticipates will push total costs and expenses to grow by 25% or more in 2021.
  • Twitter is exploring new revenue models, such as subscriptions, which would help it drive more revenue from its existing user base.

Go deeper

Dion Rabouin, author of Markets
Feb 8, 2021 - Economy & Business

S&P companies overall on pace for positive earnings for first time since 2019

Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 15, 2019. Photo: Johannes Eisele/AFP via Getty Images

Fourth-quarter earnings have been far better than expected for S&P 500 companies, with the index overall reporting year-over-year earnings growth of 1.7% as of Friday.

Details: The expected earnings of the index have increased consistently. Analysts had predicted a year-over-year decline in earnings of -2.4% last week and a year-over-year decline in earnings of -9.3% at the end of the fourth quarter, according to FactSet senior earnings analyst John Butters.

Bloomberg Media expects 9-figure consumer subscription biz

Data: Bloomberg sources; Chart: Axios Visuals

Bloomberg Media is expecting to bring in at least $100 million in consumer subscription revenue in 2021, according to an internal memo sent to staff from CEO Justin Smith.

Why it matters: Prior to the launch of its consumer digital subscription business three years ago, Bloomberg LP made pretty much all of its subscription money from enterprise subscriptions to the Bloomberg Terminal, a data and content platform for financial professionals.

Ben Geman, author of Generate
Feb 9, 2021 - Economy & Business

Oil giant Total rebrands and boosts renewables spend

Photo: Jonathan Raa/NurPhoto via Getty Images

The huge multinational oil-and-gas company Total on Tuesday unveiled new information about its diversification efforts — and the company's changing its name too.

Driving the news: Total said over 20% of its expected $12.1 billion in net spending in 2021 will be devoted to renewables and other electricity-related investments.

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