Twitter released its 2014 results this morning with revenue reaching $250 million for the period, up 119% on a year-over-year basis.
In addition the social media giant added 14 million new monthly active users.
Twitter chief executive Dick Costolo says the quarter was very strong.
“Revenue growth accelerated on a year-over-year basis fuelled by increased engagement and user growth,’’ he says.
“We also continue to rapidly increase our reach and scale.”
Analysts were predicting revenue of around $241 million for the quarter.
eBay beats revenue expectations
Also announcing better than expected results for the quarter was eBay, which posted revenue growth of 14%.
The company announced that revenue for the quarter reached $4.3 billion.
Apple drops Macbook Air prices
Consumers in the market for a Macbook Air will now be able to pick one up starting from $899. The refresh features Intel’s Haswell processor and is now $100 less than the previous model.
The Australian dollar was trading at US92.68 cents, up from 92.39 cents on Tuesday. The Dow Jones average is up to 16535.37.