Economy

Twitter Announces First Quarterly Profit As Ad Sales Rise

Twitter Announces First Quarterly Profit As Ad Sales Rise

This is a big problem for Twitter, and one that it has had for a couple of years now.

That beat an analyst forecast polled by Bloomberg of 14 cents in earnings per-share during the latest quarter, and $686.4 million in revenue. The net result went to a profit of United States dollars 91 million or diluted earnings per share share of USD 0.12, from a loss the year earlier of 167 million and a diluted loss per share of 0.23.

Twitter said that it live streamed more than 1,140 events in the fourth quarter with 60 percent going to a global audience.

Twitter's focus on video, as well as a new software algorithm that shows users the most relevant postings first, have led people to spend more time on the platform, said Richard Greenfield, an analyst at BTIG.

It even posted better than expected revenue as video ad sales provided a push with total revenue seeing a 2 percent increase year-over-year. "I'm proud of the steady progress we made in 2017, and confident in our path ahead", he said during an earnings call. Monthly users in the USA are slowly slipping away.

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The firm reported 330 million active users a month, a rise of 4% on a year ago but no change on the previous quarter. The upside is the daily active user figures have increased by 12 percent year-on-year, so the people who use Twitter are now using it more often.

It was a promising sign that was underscored by Twitter's financials, reported early Thursday. Facebook boasts a whopping 2.2 billion active monthly users while Instagram has approximately 800 million monthly users.

But for every silver lining, there's a grey cloud, and Twitter can't rely upon rosy user numbers to bolster the good mood. The company is likely still making up that shortfall.

Considering the rise of fake news and abuse over the social media, all platform owners are attempting to create a more attractive environment for both consumers and advertisers. The latter is, unsurprisingly, the project which is attempting to purge the site of automated accounts that are created to spread "malicious activity". New York Attorney General Eric Schneiderman has opened an investigation into Twitter and Devumi. Which means Twitter has likely capped its growth in the USA, which is unfortunate, but Twitter does have many other countries where it can grow.

Twitter, Inc. (NYSE:TWTR) plunged -3.05% with the closing price of $25.13.

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