Shares of Twitter Inc.  (TWTR)   touched a new 52-week high on Thursday morning, jumping to $34.48 apiece following a strong earnings report. 

The results come just a day after social media counterpart Snap Inc.  (SNAP) ripped almost 50% higher on Wednesday after it beat on earnings, revenue and user growth expectations for the fourth quarter.

Twitter reported earnings of 19 cents per share, a nickel above the 14 cents per share analysts were looking for. Revenue grew just 2.1% year-over-year, but the $732 million in sales came in vastly ahead of the roughly $686 million analysts were looking for.

The company also grew its monthly active users 4% to 330 million from the same quarter a year ago. However, this figure was flat vs. the prior quarter.

While full-year revenue fell 3% vs. the prior year, there is reason to be excited. For instance, adjusted EBITDA grew to $308 million (42% of revenue) vs. just $215 million (30% of revenue) in the prior year. Second, the company generated its first quarter of GAAP profitability. From CEO Jack Dorsey in the press release:

"We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double digit DAU growth. I'm proud of the steady progress we made in 2017, and confident in our path ahead."

Trading near $33.14 in early Thursday trading, it's the stock's highest level since July 2015. Twitter's all-time high is $74.73 per share which it reached in 2014. So far the analysts haven't issued any new commentary.

Instead of following the analysts though, perhaps investors should follow the money. According to several forms filed with the SEC, Dorsey purchased just over 1 million shares of Twitter stock between $15.87 and $16.82 between February and April of last year. That's the executive's way of saying they believe in the company's future.

Well, those purchases have effectively doubled based on Thursday's action. 

For what it's worth, Snap stock was trading higher by another 3.3% in Thursday's pre-market session, but is now down about 0.9% to $20.56 near the open. On the other hand, Facebook (FB) is up 0.75% to $181.54 in early trading. 

Despite the strong open, Twitter stock closed higher by "just" 12.1%, ending the day at $30.18. 

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB? Learn more now.

This article is commentary by an independent contributor. At the time of publication, the author had no positions in the stocks mentioned.

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