Today, Twitter, Inc. (NYSE: TWTR) announced its fourth quarter and fiscal year 2019 financial  results. Twitter shares surged early Thursday. 

In the fourth-quarter 2019, Twitter reported for the first time quarter revenues past the billion-dollar mark with USD 1.01 billion in sales, an increase of 11% from the same period last year,  pushed by a strong quarter in advertising sales. 

The net income for the fourth-quarter 2019 was USD 119 million or diluted earnings per share of USD 0.15. 

The Company further informed about average monetizable daily active users (mDAU) of 152 million for the fourth-quarter of 2019, compared to 126 million in the fourth-quarter of 2018. 

According to Twitter, 2019 net income was USD 1.47 billion or diluted earnings per share of USD 1.87 and revenue for the full-year 2019 increased by 14% year-over-year to USD 3.46 billion. 

“2019 was a great year for Twitter. Our work to increase relevance and ease of use delivered 21% mDAU growth in Q4, with more than half of the 26 million mDAU added in 2019 directly driven by product improvements,”

said Jack Dorsey, Twitter’s CEO. 

In Twitter’s outlook for the first-quarter of 2020, the Company revealed to expect the total revenue to be between USD 825 million and USD 885 million, and an operating income in the range of USD 0 million and USD 30 million. 

For the full-year of 2020, Twitter expects a stock based compensation expense in the range of USD 425 million and USD 475 million, as well as capital expenditures to be between USD 775 million and USD 825 million. 

The Chief Executive Officer added:

 “Entering 2020, we are building on our momentum — learning faster, prioritizing better, shipping more and hiring remarkable talent. All of which put us in a stronger position as we address the challenges and opportunities ahead.”