Twitter posts strong Q4 results as user base, revenue jumps

Twitter posted solid results for the last three months of 2020, capping what CEO Jack Dorsey called “an extraordinary year” for the platform. New users signed on in large numbers to follow the world’s events in real time despite the challenges of election misinformation and intensifying calls to ban now former President Donald Trump.

The San Francisco-based company earned $222.1 million, or 27 cents per share, in the October-December period. That’s up 87% from $118.8 million, or 15 cents per share, a year earlier.

Revenue grew 28% to $1.29 billion from $1 billion. Analysts, on average, were expecting earnings of 29 cents per share and revenue of $1.18 billion, according to a poll by FactSet.