Twitter Inc (NYSE:TWTR)
Before the market opened on Thursday, shares of Twitter ($TWTR) took off following the release of their Q3 earnings.
The social media company announced an earnings per share loss of 3 cents on $590 million in revenue compared to analyst estimates of a loss of 11 cents per share.
However, the most important figure in the release was monthly active user count which was at 330 million with daily active users jumping 14%. They were able to add 4 million monthly users this quarter.
CEO Comments
“This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability,” said Jack Dorsey, Twitter’s CEO. “We’re proud that the improvements we’re making to the product continue to bring people back to Twitter on a daily basis. It’s our job to help people stay informed about what’s happening in the world and what people are talking about, and we’re focused on making our service faster, easier to use, and more relevant to more people every day.”
Twitter Technical Analysis
Shares of $TWTR are looking to open in the $19 range which would mark an almost 12% gain from Wednesday’s close. This would be the biggest gain in over a year.
Look for some resistance at the gap fill at $19.27 followed closely by $20, $20.88 and $21. After that we have room up to $23. Important support levels to watch would be $18.79 along with $18 and then the 200-day moving average currently at $17.49. Below that we should see some support at $17 and $16.50.
Company Profile
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides a network that connects users to people, information, ideas, opinions, and news.
The company’s services include live commentary, live connections and live conversations. Its application provides social networking services and micro-blogging services through mobile devices and the Internet.
The company can also be used as a marketing tool for businesses. Twitter was founded by Jack Dorsey, Christopher Isaac Stone, Noah E. Glass, Jeremy LaTrasse, and Evan Williams on March 21, 2006 and is headquartered in San Francisco, CA.