Twitter just had its best quarter of user growth since early 2015.
Twitter added nine million new users last quarter, the most since early 2015
Twitter’s business is shrinking, but not as much as Wall Street expected.
Bill Pugliano / Getty
The company released Q1 earnings on Wednesday, and reported profits of 11 cents per share on $548 million in revenue for the quarter. Analysts were looking for profits of one cent per share on revenue of $512 million for the quarter.
That means Twitter’s business declined roughly 8 percent over the same quarter last year, but that’s still better than Wall Street was expecting.
Twitter also added nine million new users in Q1, which brings the company’s total to 328 million. That’s the biggest quarter-over-quarter jump for Twitter since early 2015.
The stock is up more than 11 percent in early pre-market trading.
More good news for Twitter investors: Twitter says that daily active users are up 14 percent over the same quarter last year, which means that its DAU growth is outpacing its total growth. Its overall audience may not be getting much larger, but those who do use the service are coming back more frequently.
Twitter doesn’t actually share its total daily active user total, though, so it’s tough to know how impressive 14 percent growth actually is.
This article originally appeared on Recode.net.
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