Can Twitter Stock Keep Going After Last Week's 21% Pop?
Shares of Twitter (NYSE: TWTR) hit 52-week highs on Friday, despite posting another quarterly deficit on a reported basis and year-over-year decline in revenue. However, the social media giant's continuing improvement in daily active users and cost controls has investors raving about the third-quarter report. Twitter stock was one of the market's biggest winners, up 21.3% on the week.
Revenue declined 4% to $589.6 million, Twitter's third straight quarter of negative top-line growth. However, improving margin helped narrow Twitter's loss substantially. Engagement is also on the rise, with daily active users up 14% over the past year. This is the fourth consecutive quarter of double-digit growth for daily active users. Twitter isn't perfect, but it's showing enough signs of life to give bulls the upper hand.
Image source: Twitter.
Source: Fool.com
