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Twitter Kicked Trump Out and Its Stock Surged to a Record
Bloomberg 2/22/2021 Jeran Wittenstein
(Bloomberg) Many investors had thrown in the towel on Twitter Inc. even before it made a move unlike just about anything a U.S. company had ever done before permanently banishing the sitting president from its service.
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The exile of Donald Trump led to a short-term dip that sent the shares below where they opened in the company’s trading debut in 2013. It triggered predictions of massive losses in users among the 74 million Americans who voted for Trump and the 88 million Twitter accounts that followed him.
Twitter Jumps Most in a Year After Sales Top Estimates
Bloomberg 2/10/2021 Kurt Wagner
(Bloomberg) Twitter Inc. jumped the most in a year after it reported fourth-quarter revenue that topped analysts’ estimates, capitalizing on a robust holiday season for digital advertising.
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Revenue rose 28% to $1.29 billion, compared with the $1.19 billion average analyst prediction, according to data compiled by Bloomberg. Twitter on Tuesday cited “strong brand advertiser demand in the U.S.” as a driver of ad sales in the fourth quarter, according to the company’s shareholder letter. Net income rose to $222 million, or 27 cents a share.
The shares soared as much as 16% on Wednesday, the most since Feb. 6, 2020, hitting a seven-year high. They were trading at $66.76 at 10:04 a.m. in New York, up 12%. Several analysts raised their price targets on the stock.
Twitter Inc. jumped the most in a year after it reported fourth-quarter revenue that topped analysts’ estimates, capitalizing on a robust holiday season for digital advertising.
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