Shares in Twitter jumped Thursday after the social media company said revenue and user numbers exceeded forecasts in the latest quarter, though profit fell as expenses rose.
The San Francisco-based tech company said that fourth-quarter net income fell to $119 million, or 15 cents per share. That's down from $255 million, or 33 cents, in the same period a year earlier.
The short messaging service had revenue of $1.01 billion during the quarter, a 11% increase and the first time revenue surpassed $1 billion.
Chief Financial Officer Ned Segal called it a "new milestone" for revenue. He said performance was solid in most of the world, with particularly strong advertising revenue in the U.S.
