Twitter reported second quarter revenue of $502.4 million, a 61% increase over the same period last year and soundly beating analysts’ estimates.
Analysts had predicted revenue would reach $481.3 million for the period, up 54% from the $312.2 million tallied in the prior year. The social media giant also reduced its net loss in the period to $136.7 million (21 cents per share) from $144.6 million (24 cents per share) in 2014.
The company projected revenue of between $545 million and $560 million for the third quarter, and increased its estimates for full-year 2015 revenue from between $2.17 billion to $2.27 billion to between $2.2 billion and $2.27 billion.
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