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

Twitter's stock was up nearly 4% in pre-market trading Friday, after the company said it added more "monetizable" daily users than investors had anticipated.

Yes, but: The company said it has been making investments in health and safety features on the platform, and forecasted that those investments would increase operating costs by 20% over the course of the entire fiscal year.

Why it matters: Part of Twitter's turnaround story over the past two years since going public in 2013 is that it's been able to consistently turn a profit. These kinds of investments may continue to eat at the company's margins moving forward.

  • In a statement, Twitter CEO Jack Dorsey said that health remains Twitter's top priority and that the company's investments resulted in an 18% drop in reports of spammy or suspicious behavior.

By the numbers, via CNBC:

  • Earnings per share: 20 cents, adjusted, vs. an expected 19 cents per share, per a Refinitiv survey of analysts.
  • Revenue: $841 million vs. an expected $829.1 million, per Refinitiv
  • Average monetizable daily active users (mDAUs): 139 million

Between the lines: This was the first quarter in which Twitter stopped reporting a monthly active usage metric, after the company missed its analyst expectations during the two prior quarters.

  • Its new metric is called "monetizable daily active usage (mDAU)," which the company says takes into account whether a user was exposed to advertising.
  • The company said ad engagements were up 20% year-over-year, suggesting improvements to its ad products are working.

Be smart: Despite gains, Twitter's daily active user base is smaller than its peers, and it is much more international, which is typically tougher to monetize. For comparison, Snapchat said Tuesday that it now has 203 million daily active users, while Facebook has 1.59 billion.

Go deeper: How Jack Dorsey plans to change Twitter

Go deeper

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15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
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In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.