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Photo: Jaap Arriens/NurPhoto via Getty Images

Twitter shares spiked Wednesday in pre-market hours after beating Wall Street expectations on earnings and revenue.

Why it matters: Strong earnings helped the company achieve its second quarter as a profitable company since going public in 2013 with $61 million net income. Twitter credits strong advertising growth, especially in video, for revenue increases.

The bigger picture: It's a bigger example that the "techlash" against social media companies isn't taking hold in the markets. Google also beat its earnings expectations and Facebook is poised to do so when it reports numbers later today.

By the numbers, via CNBC:

  • Revenue: $665 million, up 21% year over year, beating a Thomson Reuters estimate of $608 million.
  • Earnings per share: 16 cents vs. 12 cents, expected by Thomson Reuters.
  • Monthly Active Users (MAUs) 336 million vs 334.2 million, per a StreetAccount and FactSet estimate.

Go deeper

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
  6. World: WHO team arrives in China to investigate pandemic origins.
Dave Lawler, author of World
6 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.

Mike Allen, author of AM
8 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.