Twitter achieves first billion-dollar quarterly revenue

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CEO Jack Dorsey said the social network is “learning faster” and “prioritising better” as Twitter revenue hits US$1-billion in quarterly revenue for the first time.

Total Twitter revenue between October and December last year hit $1.01-billion, an increase of 11% on the same period in 2018.

The company said it now has 152 million users which it defines as monetisable daily active users a jump of seven million on the previous quarter, and up 21% compared to 2018.

But despite positive Twitter revenue, net income is down, standing at $118.8-million against last year’s $255.3-million. Twitter said the decline was due to “ongoing investments across our top initiatives to drive growth and better serve the public conversation”.

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The company claims it continued to proactively limit the visibility of unhealthy content, resulting in a 27% decline in bystander reports on tweets that violate its terms of service.

It was “a great year for Twitter” in 2019, said Dorsey. “Entering 2020, we are building on our momentum learning faster, prioritising better, shipping more and hiring remarkable talent. All of which put us in a stronger position as we address the challenges and opportunities ahead.”

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Author: abokimallamfx