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.

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Americans reflect on Independence Day amid racism reckoning

A Black Lives Matter banner and a United States flag on the facade of the U.S. embassy building in Seoul, South Korea. Photo: Simon Shin/SOPA Images/LightRocket via Getty Images

America's leaders are rethinking how they view Independence Day, as the country reckons with the historic, unequal treatment of people of color during a pandemic which has disproportionately affected nonwhite Americans.

Why it matters: The country’s legacy of racism has come into sharp focus in the weeks of protests following the death of George Floyd while in Minneapolis police custody. From Confederate statues to Mount Rushmore, Americans are reexamining the symbols and traditions they elevate and the history behind them.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 11,031,905 — Total deaths: 523,777 — Total recoveries — 5,834,337Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 2,788,395 — Total deaths: 129,306 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
12 hours ago - Sports

Washington Redskins to review team name amid public pressure

Photo: Patrick McDermott/Getty Images

The Washington Redskins have announced they will be conducting a review of the team's name after mounting pressure from the public and corporate sponsors.

Why it matters: This review is the first formal step the Redskins are taking since the debate surrounding the name first began. It comes after weeks of discussions between the team and the NFL, the team said.