Twitter beats Street on revenues but earnings fall short of expectations

Twitter Inc. (TWTR) on Tuesday reported first-quarter earnings of $190.8 million.

On a per-share basis, the San Francisco-based company said it had net income of 25 cents. Earnings, adjusted for one-time gains and costs, came to 9 cents per share.

The results fell short of Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.

The short messaging service posted revenue of $786.9 million in the period, surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $774.9 million.

For the current quarter ending in July, Twitter said it expects revenue in the range of $770 million to $830 million. Analysts surveyed by Zacks had expected revenue of $821 million.

Twitter shares have increased 20 percent since the beginning of the year. The stock has risen 9 percent in the last 12 months.