Why Twitter, Inc. Stock Popped 22.2% in October

Why Twitter, Inc. Stock Popped 22.2% in October

Shares of Twitter (NYSE: TWTR) jumped 19.5% in October, according to data from S&P Global Market Intelligence, after the budding social media giant announced encouraging progress in its turnaround.

More specifically, Twitter revealed that its third-quarter 2017 revenue fell 4.3% year over year, to $589.6 million, which translated to a GAAP net loss of $0.03 per share, narrowed significantly from a net loss of $0.15 per share in the same year-ago period. Adjusted EBITDA climbed 14.4% to $207 million. And adjusted for items like stock-based compensation and restructuring expenses, Twitter's net income was $77.8 million, or $0.10 per share, up from $0.09 per share in the same year-ago period.

For perspective, both the top and bottom lines arrived comfortably ahead of analysts' consensus estimates at the time, which called for adjusted earnings of $0.06 per share on revenue of $586.7 million.

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Source: Fool.com