Photo: Omar Marques/SOPA Images/LightRocket/Getty Images

Twitter said Thursday that it beat first-quarter revenue expectations and added more "monetizable" daily users than investors had anticipated.

Why it matters: It was the fourth major internet company to post strong earnings in the past week, suggesting that Big Tech will continue its dominance over the advertising ecosystem as a result of the coronavirus pandemic.

  • Twitter, like Facebook and other ad-based companies, says it's not providing guidance for its performance next quarter, given the uncertainty in the advertising market.

By the numbers, via CNBC:

  • Earnings per share (EPS): 11 cents vs. 10. cents expected by Refinitiv
  • Revenue: $808 million vs. $776 million expected by Refinitiv
  • Monetizable daily active users (mDAUs): 166 million

Yes, but: It also said its ad revenue was down 27% during the last two weeks in March as the pandemic took hold.

Between the lines: Twitter says the quarter represented its strongest year-over-year user growth ever at 24%, suggesting that its app is experiencing a surge in usage while people are at home.

What's next: Twitter CFO Ned Segal said in a note to shareholders that the company is shifting resources to "increase focus on our revenue products and reduce expense growth" so that it can whether the coronavirus fallout.

Go deeper

Dion Rabouin, author of Markets
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