Twitter Q4 Profit Tops Estimates, Ex-items

(RTTNews) - Twitter, Inc. (TWTR) reported a net loss for the fourth quarter of $511.5 million or $1.41 per share, compared to a net loss of $8.8 million or $0.07 per share for the year-ago quarter.

The latest quarter results include $521 million of stock-based compensation expense, of which $406 million was for restricted stock units previously granted to employees, for which no expense had been recognized, until the effective date of the company's initial public offering.

Excluding items, adjusted net income for the fourth quarter was $9.8 million or $0.02 per share, compared to an adjusted net loss of $271,000 or breakeven per share in the prior year quarter.

Revenue for the fourth quarter jumped 116% to $242.68 million from $112.25 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share on revenue of $217.82 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecast revenue of $230 million to $240 million for the first quarter and $1.15 billion to $1.20 billion for the full year 2014.

Analysts currently expect the company to post revenue of $215.23 million for the first quarter and $1.13 billion for the full year 2014.