Twitter Q1 Results Top Estimates

(RTTNews) - Twitter, Inc. (TWTR) reported a net loss for the first quarter of $132.4 million or $0.23 per share, compared to a net loss of $27.0 million or $0.21 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $183,000 or $0.00 per share, compared to an adjusted net loss of $10.5 million or $0.08 per share in the prior year quarter.

Revenue for the first quarter rose 119% to $250.49 million from $114.34 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share on revenue of $241.47 million for the first quarter. Analysts' estimates typically exclude special items.

Advertising revenue jumped 125% year-over-year to $226 million.

Average Monthly Active Users were 255 million as of March 31, 2014, an increase of 25% year-over-year.

Looking forward, the company currently forecasts revenue of $270 million to $280 million for the second quarter. The company raised its full year 2014 revenue forecast to a range of $1.20 billion o $1.25 billion from its previous forecast of $1.15 billion to $1.20 billion.

Analysts currently expect the company to post revenue of $272.94 million for the second quarter and $1.24 billion for the full year 2014.