Twitter Skyrockets After Reporting Big Q2 Revenue Of $312M, Profit Of $0.02 Per Share

Update: In after-hours trading, Twitter is now up more than 20 percent following its massive beat.

Update II: Twitter is now up just under 30%. Pretty sure Twitter HQ is where the party will be at tonight. 

This afternoon Twitter reported its second quarter financial performance, including revenue of $312 million, and earnings per share of $0.02. The street had expected Twitter to lose a penny per share on revenue of $283.07 million.

Its revenue in the quarter was up 124 percent from the year-ago period. In the second quarter of 2013, Twitter’s revenue totaled $139.3 million. In its most recent, sequential quarter, Twitter had revenue of $250 million.

In the period, 81 percent of Twitter’s ad revenue came from mobile advertising.

The company reported that it has 271 million monthly active users, up from its 255 million tally in the first quarter of 2014. That’s up 24 percent, year-over-year.

Twitter’s monthly mobile user count was also up, to 211 million, a gain of 29 percent. The company had adjusted EBITDA of $54 million for the three-month period. Keeping the non-GAAP statistics coming, Twitter reported that it derived $1.60 per thousand timeline views, up 100 percent year-over-year.

Twitter rose more than 1.5 percent in regular trading in a down day. In after-hours trading, following its earnings beat the company is massively up.

This was a massive quarter for Twitter. Stronger-than-expected user growth attached to big beats on both revenue and non-GAAP earnings per share have delighted investors.

The other side of the coin? Twitter’s GAAP net loss totaled $145 million, up from $42 million a year ago. On a GAAP basis, Twitter lost $0.24 per share. Investors, however, were not expecting Twitter to be profitable by GAAP measurements, so the loss isn’t too much of a drag.

Looking ahead, Twitter expects revenue for the third calendar quarter of 2014 to come in between $330 million and $340 million, strong guidance. The company expects similar adjusted EBITDA, and large stock-based comp expenses. So, expect those GAAP losses to continue for now.

TechCrunch will tune into the earnings call at 2, so get ready for more.