Twitter shares rise 4% on highest-ever yearly growth in daily users

Twitter Inc on Thursday reported its highest-ever yearly growth of daily users who can view ads, beating analysts' estimates on usage and sending its shares up 4 per cent.

Twitter's average monetisable daily active users (mDAU) increased 34 per cent year over year to 186 million, above analysts' estimate of 176 million, in a rise it said was primarily driven by external factors such as shelter-in-place requirements and increased conversation around the Covid-19 pandemic.

But the company missed Wall Street's lowered expectations for quarterly revenue, as the coronavirus-spurred economic slowdown battered the company's largely events-oriented digital ads business.

Ad sales,