• News
  • Hi-Tech

Twitter is *finally* profitable for the first time ever

Twitter is *finally* profitable for the first time ever

Twitter has made its first ever profit, nearly twelve years after the launch of the company.

Though monthly active users grew only 4 percent year-over-year, daily active users went up 12 percent.

This is a strong improvement year-on-year.

Twitter had said earlier the breakthrough was possible as it slashed expenses.

During the quarter, Twitter doubled the character limit of tweets for all users.

Twitter had never had a profitable quarter until now.

At the time of writing, Twitter share price was up an impressive 19%, though it should be worth noting overnight trading took the price higher. That's the second time in just one year that US users dipped.

The site's U.S. user count was up two percent year-over-year, but actually decreased in the last quarter from 69 million to 68 million. That meant the company reported a GAAP net profit of $91 million for the quarter, translating to GAAP earnings per share of $0.12, up significantly from a per share loss of $0.23 in the year-ago quarter.




This is thanks to much higher ad engagement rates which were up 75% year-on-year while cost per engagement dropped 42%. Twitter has become the defacto place for the world to react to news, politics, sport, TV, weather and more. "We are seeing this momentum carry over into Q1 with major tentpole events like the Golden Globes, GRAMMYs, Super Bowl, Winter Games, and Oscars". And in a separate hearing, terrorism expert Clint Watts said Google and Facebook are ahead of Twitter in weeding out extremist content. The millennials are flocking to Snapchat and Instagram (which has 800 million monthly users) instead.

Twitter faces multiple challenges. While investors were surely happy to see that its revenue didn't shrink again, it only grew by 2% from the same quarter a year earlier and its sales in the United States - its biggest market - actually fell 8%.

Twitter in late 2017 promised to crack down on hate speech and sexual harassment on its platform as it responded to criticism it was not doing enough to protect its users.

Average monthly active usage was 330m for the fourth, up 4pc and Twitter said that it was affected by Apple's Safari browser's app integration, which affected 1m monthly users and 1m internationally.

In a letter to shareholders, Twitter indicated that improving its adtech stack will continue to be a focus throughout 2018.

Social media giant Twitter posted its first net quarterly profit in history on Thursday, as rising sales of video advertising space across the microblog helped offset concerns over user numbers falling short of expectations on the Street. Not only does Twitter look like a niche site by comparison - it's struggled, unlike its bigger rivals, to figure out how to make itself appealing to advertisers. And this boost in engagement has been met with an increase in advertising dollars.

Twitter expects adjusted EBITDA in the first quarter to be between US$185mln and US$205mln.

Leave Your Comment

Leave Your Comment


Latest News

  • Research trial finds asparagus triggers breast cancer spread

    Research trial finds asparagus triggers breast cancer spread

    It's possible that in future, this drug could be re-purposed to help treat breast cancer patients. Asparagine is an amino acid - a building block of protein - and takes its name from asparagus.
    PS4 Update 5.50 Beta Brings Parental Controls To Limit Kids' Playtime

    PS4 Update 5.50 Beta Brings Parental Controls To Limit Kids' Playtime

    Notifications on PS4 will be sent to the child during gameplay so that he or she knows when they should save and quit. The second tab, PS Plus , only lists games you've acquired through the monthly PlayStation Plus offerings.
    Oil prices are mixed as USA  output surpasses 10M barrels a day

    Oil prices are mixed as USA output surpasses 10M barrels a day

    They should peak sometime around late summer, but that will probably be followed by a quick slide back to near current prices. Here's the U.S.'s short but epic journey from a grateful importer of OPEC oil to a promising global energy exporter.
  • 'Solo: A Star Wars Story' Footage Finally Revealed

    'Solo: A Star Wars Story' Footage Finally Revealed

    The trailer for young Han Solo's glacial adventure is here - Solo: A Star Wars Story . Han was kicked out of the Imperial Flight Academy "for having a mind of his own".
    UK Judge Denies Julian Assange's Request To Drop Arrest Warrant

    UK Judge Denies Julian Assange's Request To Drop Arrest Warrant

    Lawyers representing Assange argued the warrant should be scrapped because he is no longer wanted for questioning in Sweden . Mr Assange was interviewed in November 2016 at the Ecuadorian embassy and the interview was relayed to Swedish prosecutors.
    Prosecutors: Gun went off in girl's backpack at LA school

    Prosecutors: Gun went off in girl's backpack at LA school

    School Police Chief Steve Zipperman during a press briefing at the scene. "I think he will do fine", Strumwasser said. On Friday morning, anxious parents accompanied their children to the school as classes resumed. "I wanted to cry".
  • German parties negotiate grand coalition

    German parties negotiate grand coalition

    Mrs Merkel's new coalition government will increase spending on pensions, schools and the country's internet infrastructure. The yes-or-no referendum will be held by postal ballot, with the result expected to be announced around March 4.

    How Are General Motors Company (GM) EPS Outlook Changing

    Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new stake in shares of Ford Motor in the 2nd quarter valued at about $106,000.
    US Missile Interceptor Test in Hawaii Fails

    US Missile Interceptor Test in Hawaii Fails

    The Pentagon has not publicly admitted the reported failure because of ongoing tensions with North Korea . Missile Defense Agency did not comment on the outcome of the test but confirmed that one had taken place.
  • Sony Debuts First Teaser Trailer for 'Venom'

    Sony Debuts First Teaser Trailer for 'Venom'

    Will be interesting to see how Hardy wraps his tongue round this "protector" when the movie is released in October. Details on the plot have been scarce, and we don't know how the movie will exist inside its own universe.
    Senate majority leader announces 2-year budget accord

    Senate majority leader announces 2-year budget accord

    Luis Gutierrez said if his party's leaders back the deal without addressing immigration first, it would be "a complete betrayal". It also might approve crucial legislation to increase the government's borrowing limit to avoid possible default.
    Hamilton Sevens: Fiji overturns South Africa in final

    Hamilton Sevens: Fiji overturns South Africa in final

    New Zealand were second in the series standings before Hamilton with one tournament success in Cape Town after three legs. William Ambaka's try stretched Kenya's lead to 33-14 and they safely held on despite conceding a late try .
  • Pink Blasts Twitter troll for criticising her Super Bowl performance

    Pink Blasts Twitter troll for criticising her Super Bowl performance

    Trump's Super Bowl viewing party was held last night at the Trump International Golf Club in West Palm Beach. But advertisers can stumble in these efforts when the connection seems tenuous.
    Ryan tweets about a $1.50 paycheck boost, then deletes it

    Ryan tweets about a $1.50 paycheck boost, then deletes it

    Users on Twitter - mostly left-leaning individuals - didn't take too kindly to Ryan's tweet, which has since been deleted. Ryan tweeted about the GOP tax overhaul and within no time, faced a huge backlash on Twitter.
    Pelicans agree on deal to trade for Bulls forward Nikola Mirotic

    Pelicans agree on deal to trade for Bulls forward Nikola Mirotic

    The Bulls had decided Wednesday to shut Mirotic down while continuing to explore trade options prior to the February 8 deadline. The first-round pick the Bulls will receive has minimal protections , and they are likely to get that pick for the July draft.
  • Man In Sexual Assault Video Being Shared on Facebook Turns Himself In

    Man In Sexual Assault Video Being Shared on Facebook Turns Himself In

    Police began asking for the public's assistance after attempting to serve a warrant at Moore's home on Monday afternoon. He was taken to the Montgomery County Detention Facility, where he was being held under a $100,000 bond, a report said.
    Amazon Alexa's Star-Studded Super Bowl Commercial 2018

    Amazon Alexa's Star-Studded Super Bowl Commercial 2018

    And if you want a little more Cardi B /Amazon Echo fun, ask Alexa if Cardi B enjoyed filling in for her. Amazon is expected to make a big impact in its new city, regardless of the choice.
    Bill Belichick characteristically bristly, cryptic when asked about Malcolm Butler's benching

    Bill Belichick characteristically bristly, cryptic when asked about Malcolm Butler's benching

    What made Johnson Bademosi the decision to play at third cornerback? Here are the five teams who could sign Butler this offseason. As it turns out, it came as quite a shock not only to the viewing public but even to the players themselves.

Breaking News



Recommended

Smart home unit 'Nest' is spun back into Google

A united front could be helpful in competing with the other ubiquitous digital helpers of today - Amazon's Alexa and Apple's Siri. It also plans to offer more bundled deals for Nest and Google home devices, and may integrate Google accounts into the Nest app.

Taliban bomber kills 11 soldiers in Pakistan's Swat Valley

Security forces and police have cordoned off the area and a search operation was started to arrest the terrorists. The death toll may further increase as several injured were in a critical condition, health officials said.

Early Facebook and Google employees form coalition to fight what they built

On its website, the Center explains how modern apps and services are engineered to grab attention and intentionally addict us. Many parents and mental health experts have called on tech companies to reduce marketing to children.

Government Spokesman Says US Forces Begin Reducing Numbers in Iraq

The 300 or so Americans account for about 1 percent of the estimated 30,000 foreign fighters who joined ISIS in Iraq and Syria . According to the Western contractors, the drawdown began last week and a number of US troops have left bases on daily flights.

Rooney explains why Mkhitaryan will succeed at Arsenal

Sanchez will do that, they're the players you want because they lift other players and give them an extra five per cent. And you can see he is a victor . 'I saw it in training with him - he's a very talented player.

Uber throws former self-driving vehicle guru Andrew Levandowski to the wolves

Levandowski, regarded as a visionary in autonomous technology, is not a defendant in the case but is on Waymo's witness list. Once upon a time, Levandowski was Uber's saviour to catch Google in the self-driving auto wars.

Britain's services output growth dips in January

Hiring continued at a robust pace, suggesting a positive pipeline of new projects and positive output expectations, Markit said.

'Modicare', World's Largest Health Care Scheme To Cost 11,OOO Crore Per Year

It's not on reimbursement model because too many complaints come on the reimbursement model", he said. Nadda said no date for the roll out of the scheme had been fixed, but it would be done "very soon".

Kansas congressman among lawmakers to treat injured after train crash

Buckingham Branch Railroad leases the tracks and is responsible for maintenance, signaling and traffic dispatching on the line. Mike Lee of Utah. "To look out the window and see the debris and the garbage truck, I knew there were probably people injured.

Good Job! Samsung Takes the Leap to Capitalize on Cryptocurrency Obsession

Mining is a process of solving mathematically complex problems that serve to verify the transactions of cryptocurrency coins. They come with better power efficiency, are created to increase a GPU's performance, and are also used for mining purposes.