Twitter (NYSE: TWTR) reported Q1 EPS of $0.11, $0.10 better than the analyst estimate of $0.01. Revenue for the quarter came in at $548.3 million versus the consensus estimate of $511.91 million.

• Twitter’s audience continued to grow with accelerating momentum in Q1. Daily active usage (DAU )* increased 14% year-over-year, marking the fourth consecutive quarter of accelerating growth. Monthly active usage (MAU) also increased 9 million quarter-over-quarter, reaching 328 million.•
• We’ve made meaningful progress toward identifying and removing accounts that demonstrate abusive behavior and, as a result, we’re seeing less abuse reported across the service.
• We shipped a series of updates to further simplify our service. We gave people more characters for their replies by removing @names from the Tweet text, we’re building a unified API platform, and we’ve launched new Direct Message APIs, creating a more cohesive product experience for consumers and developers.
• We made progress toward streamlining and simplifying our revenue product portfolio in Q1, reallocating resources to our highest revenue-generating priorities as well as new revenue product features and new channels of demand.

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