Belfast Telegraph

Twitter announces its first quarterly profit

By Martyn Landi

Twitter has reported its first quarterly profit in its latest financial results, but continues to struggle to entice new long-term users.

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The social media site reported net income of $91m (£65m), compared with a loss of more than $167m (£119m) during the same period last year.

The company also announced record quarterly revenue and an increase in daily users - but total monthly active users failed to grow, staying at around 330 million.

Total revenue for the quarter was $732m (£523m) - a 2% increase on the same period last year.

Twitter co-founder and chief executive Jack Dorsey said: "Q4 was a strong finish to the year.

"We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double-digit DAU (daily active user) growth.

"I'm proud of the steady progress we made in 2017, and confident in our path ahead."

The number of people using Twitter every day rose by 12%. However, questions remain over its ability to entice new long-term users to the platform. Despite a 4% increase in monthly active users over the year, the company saw no increase in the last three months.

Belfast Telegraph