Twitter Inc shares soar as active users rise 24% to 271 million

Financial Post | Business

Twitter Inc.’s second-quarter revenue and user growth topped analysts’ estimates, sending its shares soaring more than 35%.

[np_storybar title=”World Cup has been Twitter’s moment to shine – but what happens after the final whistle?” link=””]

The World Cup was bound to be Twitter’s best chance to score, given it’s the biggest single-event sporting competition in the world with an estimated following of roughly 3.5 billion soccer fans — or half the planet’s population.

The microblogging company’s active membership in the quarter reached 271 million, with year-over-year growth at 24%, compared with 25% in the prior period, Twitter said in a statement today. That exceeded analysts’ projections of 267 million monthly active users for the quarter, according to data compiled by Bloomberg. Sales more than doubled to US$312.2 million, exceeding the US$282.8 million average estimate.

The San Francisco-based company is maintaining its rate of attracting new members after reporting two…

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