Wednesday, 15 August, 2018

Twitter makes first ever quarterly profit

Twitter hits milestone with first-ever profit Twitter hits milestone with first-ever profit
Troy Mann | 09 February, 2018, 01:49

Despite a 4 per cent increase in monthly active users over the previous year, the company saw no increase in the last three months, with the numbers described as "flat".

In its report card for the three months ended 31 October, Twitter hinted that it may finally turn a profit, something that its previous inability to do so confused investors, considering the platform's adoption by a multitude of celebrities and politicians. The adjusted fourth quarter profit and revenue came in above street targets.

The company had its first profitable quarter ever in Q4, reporting profits of $91 million on $732 million in revenue, a jump of 2 percent over past year. Average daily active users (DAU) rose 12 percent year-over-year.

But for every silver lining, there's a grey cloud, and Twitter can't rely upon rosy user numbers to bolster the good mood. In Q4 2017, the number of times people engaged with ads increased by 75 percent year over year, but the average amount of money advertisers paid per engagement decreased by 42 percent year over year. Twitter's total revenue increased by 2 percent year over year to $731.6 million in Q4, and its advertising revenue inched up by 1 percent year over year to $644.3 million. It reported adjusted earnings of 19 cents, topping the consensus estimate of 14 cents. During the rest of 2017, revenues had declined by 4 to 8 percent year over year.

This is the first time that Twitter reported year-over-year revenue growth in the last four quarters. Twitter still refuses to disclose the its daily active users (DAU), so it's hard to interpret the full significance of that daily audience growth.

Twitter said that its usage was affected by changes that Apple made to its Safari browser.

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In fact, Twitter's audience in the USA declined slightly.

On its Twitter account, the company said: "We are committed to making Twitter safer, and we are clarifying our policies, improving our enforcement and communicating more clearly". It doubled the number of characters allowed in a tweet to 280.

Segal noted that honing these abilities would also work to Twitter's advantage when courting new users. Its user base stood at 330 million, which is the same as Q3.

Despite hitting profitability, Twitter will soon have to navigate its future business without Chief Operating Officer Anthony Noto. "And we're excited about what we're going to be able to do in 2018". Zacks Investment Research raised shares of Twitter from a "hold" rating to a "buy" rating and set a $18.00 price objective on the stock in a research report on Wednesday, August 2nd.

The social media sector is trying to cope with a regulatory backlash in Europe and the United States over privacy, addiction to the medium, hate speech and alleged abuse of social media by Russian Federation to sway foreign elections.

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