Breaking: Twitter (TWTR) reports strong earnings, users up 24%

Ivan Brian FXStreet

Shares in Twitter (TWTR) are trading strongly on Wednesday after the company announced a strong set of results for Q4 2020. Investors' fears were eased after worries the removal of former President Donald Trump from the platform may hurt user growth. However, Twitter announced Daily Average User (DAU) growth of 24% year on year. Twitter CFO Ned Segal, speaking on CNBC said the company had enjoyed growth of DAU in January 2021 higher than the average of the previous four January's.

CFO Segal also said former President Trump would not be allowed back on the platform if he ran for president again. Twitter policy is that once someone is removed they are not allowed back on the platform.

Both Morgan Stanley and Rosenblatt increased their price targets for Twitter (TWT) shares on Wednesday.

Market Reaction

Shares in Twitter (TWTR) are trading at $65.10, up 9% at the time of writing during Wednesday's pre-market.

The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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