Shares of embattled social media network operator Twitter Inc. (TWTR) gained more than 10% in trading Wednesday after the company reported that  it added 9 million monthly active users (MAUs) during the first three months of the year, blowing past Wall Street estimates.

Earlier Wednesday, Twitter weighed in with first-quarter results that showed it now has 328 million MAUs versus the 321 million Wall Street expected Twitter to report. Earnings came in at $0.11 a share, above the $0.01 a share consensus. Revenue also beat Wall Street’s views, coming in at $548 million, higher than the $511.9 million analysts were expecting.  Revenue in the first quarter was lower than a year ago when Twitter reported sales of $595 million. It marks the first time since Twitter went public back in 2013 that it had a year-over-year (YOY) decline in revenue. Looking at U.S. figures, Twitter said the number of users increased by 3 million while the number of global users that go on Twitter each day has increased 14% YOY. Twitter cited enhancements to its news feed and notifications, in part, for the uptick in users. 

Crediting President Trump

During a conference call, Twitter Chief Financial Officer Anthony Noto said politics, particularly President Donald Trump’s use of Twitter, may have helped the growth rate during the quarter. "There is some evidence that we benefited from our new and resurrected users following news and political accounts in Q1, particularly in the U.S.," he said, according to CNN.

Recently shares of Twitter were trading up nearly 11%  or $1.56 to $16.22 a share.


Separately, in an interview with BuzzFeed News, Noto said Twitter is gearing up to stream live video clips and content 24 hours a day in an effort to draw more advertising dollars. (See also: Twitter Signs Deals to Boost Live-Video Strategy.)

Full Pipeline

During an interview with BuzzFeed News, Noto said the idea is to build on the more than 800 hours of live video it streamed during the first quarter of this year. “We will definitely have 24/7 [video] content on Twitter,” Noto said in the interview. “Our goal is to be a dependable place so that when you want to see what’s happening, you think of going to Twitter.”

According to Noto, who also serves as chief operating officer, not only is live video helping increase conversation volume on Twitter, it is also enabling the social network operators to offer advertisers the type of content they pay big bucks for on TV networks. Noto said 24/7 live video won’t happen overnight but that Twitter is working on programming, with the executive saying “there’s a lot in the pipeline.”  

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