Electronics

Messaging service Twitter finally turns a profit

Messaging service Twitter finally turns a profit

Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%.

U.S. revenue fell 8pc from a year earlier, but sales elsewhere rose 17pc. Revenue from Japan rose 34 percent to US$106 million.

Shares closed 12.1 percent higher at US$30.18 after hitting a high of US$35.00. Twitter was founded by Jack Dorsey, Christopher Isaac Stone, Noah E. Glass, Jeremy LaTrasse, and Evan Williams on March 21, 2006 and is headquartered in San Francisco, CA.

In its last earnings report, the company admitted that it had accidentally overstated its monthly active user count in every quarter since the end of 2014.

Twitter had to make a number of hard decisions along the way to profitability. The number of monthly active users did not change from the previous quarter but increased by four percent to 330 million.

More than a decade after the first tweet was tweeted, Twitter has finally made its first quarterly profit. Profitability will certainly be welcomed over the next three months, but the team could use with a couple of ideas on how to increase the total number of users if it wants to make a real dent on the connected economy.

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Anything that could jeopardize advertisers' ability to see how many people they will reach, she said, "is going to cause concern". The business had revenue of $574.00 million during the quarter, compared to analyst estimates of $536.63 million. Twitter's revenue for the quarter was down 4.7% on a year-over-year basis. Ad revenue rose 1% to $644 million. Twitter reported a net profit of $91.1 million, or 12 cents per share, compared to a loss of $167.1 million, or 23 cents per share, a year earlier. Adjusted earnings were 19 cents, above analysts' expectations of 14 cents.

The company said it expects "to be GAAP profitable for the full year 2018", referring to generally accepted accounting principles. While the company's difficulties adding users is a concern, monetization across both the USA and worldwide market has helped the company to report growth in profit.

Greenfield said he expected growth for years to come. As it turned out, they miscalculated and the figure of user loss was a lot worse.

Past year the company unveiled multiple new features on its platform such as live streaming video function for sports and news by video partnerships and also doubled the character limit to 280 characters for tweets in a bid to attract more users and revenues. In comparison, Facebook had two billion and Instagram had 800 million users in the last quarter. We're also seeing more retweets, and we're seeing a lot more mentions.

Twitter Inc (NYSE:TWTR) General Counsel Vijaya Gadde sold 15,000 shares of the stock in a transaction dated Monday, January 22nd.

The social media stalwart is also dealing with the fallout of a New York Times investigation which found that a company called Devumi had sold millions of fake followers to celebrities, athletes and politicians.