World Cup Winner: Twitter (TWTR)
Twitter (TWTR) was an undisputed World Cup winner, as quarterly results clobbered Street estimates and renewed faith in the stock.
Revenue more than doubled year-over-year, while the average number of users grew 6% quarter-over-quarter. Twitter specifically tailored itself for the games and fans as the Cup progressed.
Said CEO Dick Costello on a conference call with analysts:
“During the World Cup, we delivered the kind of events experience that I’ve wanted to see from us for some time.”
But Twitter doesn’t want the World Cup to get too much credit. Indeed, it took pains to convince the Street that the World Cup didn’t drive the user growth. That’s because it can’t afford the World Cup to be seen as a one-off. But future reports will almost surely confirm that it was.