Twitter reporter net income of $222 million, or 27 cents per share, up from $119 million, 15 cents per share a year ago. Excluding items, Twitter earned 38 cents per share.
Analysts polled by FactSet on average expected earnings of 29 cents a share.
Revenue totaled $1.29 billion, up 28% from a year ago and exceeding FactSet consensus of $1.18 billion.
Twitter said it had 192 million average monetizable daily active users (mDAU) -- its term for the number of daily users who can view ads, compared with 152 million a year ago.
Analysts were expecting 196.5 million, according to IBES data from Refinitiv.
"2020 was an extraordinary year for Twitter. We are more proud than ever to serve the public conversation, especially in these unprecedented times," Jack Dorsey, Twitter's CEO, statement. "Our product changes to date are promoting healthier conversations for those who use our service, including advertisers and partners, and we are excited about our plans to continue innovating in 2021."
Looking ahead, Twitter said it expected first quarter revenue to range from $940 million to $1.04 billion. Wall Street analysts had been forecasting revenue of about $965 million.
The company said it could see modest impact from Apple's (AAPL) - Get Report updated iOS 14, which contains enhanced privacy settings for third-party apps from Twitter, Facebook (FB) - Get Report and others.
Twitter shares rose 4% to $62.18 in after hours trading. They gained nearly 3% in the regular session, ahead of the report.
Twitter faced fallout last month when it banned former President Donald Trump’s account “due to the risk of further incitement of violence” following the Jan. 6 Capitol insurrection that left 5 people dead, including a Capitol police officer.
Trump's second impeachment trial began on Tuesday.
The company also permanently suspended retailer MyPillow Chief Executive Mike Lindell's account from its platform for what it said was spreading conspiracy theories about the presidential election held in November.