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Twitter beat earnings projections for the first quarter of 2020, led by 24% growth year-over-year in monetizable daily active users (mDAU)—or daily users who can view ads—and 3% revenue improvement (though still a net operating loss) during the same time period.
The company’s premarket announcement surprised analysts, who had predicted Twitter would take a bigger hit due to the Covid-19 pandemic.
While the coronavirus crisis has sent shockwaves through the advertising sector—Twitter’s main source of revenue—the company attributes its user growth, which rose from 134 million in Q1 2019 to 166 million mDAU this quarter, in part to “the global conversation” about the pandemic, much of which has taken place on its platform.