Twitter said Tuesday profits soared in the past quarter, and President Donald Trump immediately claimed credit for the success of the short messaging platform even as he renewed his allegations of bias. Instead it is shifting to a new metric, "monetisable daily active users", which is defined as users who can see advertising on the platform.
The social media company has announced its Q1 earnings for fiscal 2019.
Monthly active users were 330 million in the first quarter, Twitter said.
In premarket trading, Twitter shares were up more than 7% to around $36.85. Twitter has removed thousands of spam and suspicious accounts, which it blamed for sequential declines in monthly users in recent quarters.
The company's revenue rose to $787m (£605m) in the first quarter, up 18% from a year earlier.
"We are taking a more proactive approach to reducing abuse and its effects on Twitter", chief executive Jack Dorsey said in a statement.
Twitter reported adjusted earnings of 37 cents per share, above the 15 cents that analysts expected. "Big complaints from many people", the president tweeted to his almost 60 million followers in one of two postings.
"The best thing ever to happen to Twitter is Donald Trump", the president tweeted after the quarterly update, taking a quote from a television journalist. Dorsey told lawmakers in September that the company wasn't biased and that there were technical explanations for each example that Republicans had raised to press their case of political bias.
"Revenue outperformance, in combination with lower expenses, resulted in better than expected profitability", Twitter said in its letter to shareholders. The company is also rolling out a Snapchat-like camera feature that lets users post videos or photos in a swipe.
He added that Twitter aims to become "more conversational" and has launched a prototype for a new app called "twttr", with the goal of "making conversation on Twitter feel faster, more fluid and more fun". Shares of peer social media companies Facebook and Snap rose 38.4% and 109.3% each, respectively, for the year-to-date through Monday.
Excluding a $124.4m tax benefit, the company earned 9 cents per share. The company announced that that 38% of abusive content is now "surfaced proactively" to the company's teams for review, rather than relying on reports from users, up from 0% of such content proactively discovered past year.
The company reported in its latest letter to shareholders that total operating expenses grew 18% over past year in the first quarter of 2019.
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