Outside Twitter's headquarters in San Francisco. Photo: David Paul Morris / Bloomberg via Getty Images

Twitter reported fourth quarter earnings of 19 cents per share before the bell Thursday morning, surpassing the industry estimates of 14 cents per share, CNBC reports. The bump earned Twitter its first-ever net profitable quarter.

Why it matters, per Axios' Sara Fischer: The company has been making strategic investments in video ad revenue for the past two years, led by COO Anthony Noto, who announced he would be leaving the company to become CEO of SoFi earlier this year. Executives have pointed out that the company has focused on its core software and live video as a strategic path to profitability as opposed to making investments in other bets, like hardware.

By the numbers: Twitter also beat revenue expectations, reporting $732 million compared to $686.1 million estimated. Monthly active users were 330 million, slightly below the projected 332.5 million, and Twitter attributed this to its crackdown on fake accounts.

Go deeper

Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 30,804,120 — Total deaths: 957,348— Total recoveries: 21,062,785Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 6,766,631 — Total deaths: 199,268 — Total recoveries: 2,577,446 — Total tests: 94,211,463Map.
  3. Education: What we overlooked in the switch to remote learning
  4. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  5. Health: The dwindling chances of eliminating COVID-19.
  6. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.

What we overlooked in the switch to remote learning

Illustration: Eniola Odetunde/Axios

America’s rapid and urgent transition to online school has come with a host of unforeseen consequences that are only getting worse as it continues into the fall.

The big picture: The issues range from data privacy to plagiarism, and schools are ill-equipped to deal with them, experts say.

The positions of key GOP senators on replacing Ruth Bader Ginsburg

Senate Majority Leader Mitch McConnell talks to reporters on Capitol Hill last Thursday. Photo: Chip Somodevilla/Getty Images

With President Trump planning to nominate his third Supreme Court justice nominee by next week, key Republican senators are indicating their stance on replacing the late Justice Ruth Bader Ginsburg just over six weeks out from Election Day.

The big picture: Senate Majority Leader Mitch McConnell (Ky.) has vowed that "Trump’s nominee will receive a vote on the floor of the United States Senate." But Sen. Lisa Murkowski (Alaska) told Alaska Public Media, "I would not vote to confirm a Supreme Court nominee. We are 50 some days away from an election."