Twitter 2Q results soar, stock flies high

FILE - This Friday, Oct. 18, 2013, file photo shows a Twitter app on an iPhone screen, in New York. Twitter reports quarterly financial results on Tuesday, July 29, 2014. (AP Photo/Richard Drew, File) FILE - This Friday, Oct. 18, 2013, file photo shows a Twitter app on an iPhone screen, in New York. Twitter reports quarterly financial results on Tuesday, July 29, 2014. (AP Photo/Richard Drew, File)

By Associated Press July 29, 2014 1 min read

SAN FRANCISCO (AP) – Stronger-than-expected results pushed Twitter’s stock sharply higher on Tuesday after the short messaging service said its revenue more than doubled in the second quarter.

The San Francisco-based company’s stock jumped 29.6 percent to $50.01 in extended trading after the results came out.

Twitter posted a net loss of $144.6 million, or 24 cents per share, in the April-June period. That compares with a loss of $42.2 million, or 32 cents per share, a year earlier when Twitter was still a private company.

Adjusted earnings were 2 cents per share in the latest quarter, beating analysts’ expectations of a loss of 1 cent, according to FactSet.

Revenue was $312.2 million, up from $139.3 million.