Twitter Surpasses Expectations with Profitable First Quarter for 2018
It’s fairly safe to say that Twitter’s position among the
leading social media platforms is not quite as secure as their rivals over at
Facebook for example, at least from a financial perspective. The company often
fails to post a profit, and so when Twitter did post their first profit in 12
years for the final quarter of 2017 it was seen as a highly promising sign;
nonetheless the company were still expected to return a net loss in the
following quarter, largely due to the ongoing abuse and overabundance of bots
on the platform.
However it would seem these predictions were made in error
as Twitter bucked expectations throughout the first quarter of 2018 and instead
reported a net income of $61m. Though this figure is down from $91m for the
same period of the previous year, it is still well above expectations and has
already had an impact on the company’s prospects with share prices rising by
more than 6% in pre-market trading.
The number of monthly active users on the platform also
increased over last quarter, rising by 2%. This, along with a 21% increase in
revenue as compared with the same period last year, peaking at
$336m, will do much to reassure both investors and advertisers alike.
$336m, will do much to reassure both investors and advertisers alike.
“The first quarter was a strong start to the year,” commented,
Twitter CEO Jack Dorsey. As for what Mr Dorsey believes prompted this period of
growth, he says it’s all down to their brand new framework for thinking about
the “health” of online conversations in the wake of repeated and ongoing
scandals. He states, “This holistic approach will help us more effectively
address these challenges by viewing them through the broader lens of the health
of the public conversation, and we’re encouraged by our initial progress in
this area.”
Sam
is an aspiring novelist with a passion for fantasy and crime thrillers.
Currently working as Editor of Social Songbird, he hopes to one day drop that
'aspiring' prefix. Follow him @Songbird_Sam
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Twitter Surpasses Expectations with Profitable First Quarter for 2018
Reviewed by Unknown
on
Wednesday, April 25, 2018
Rating:
Reviewed by Unknown
on
Wednesday, April 25, 2018
Rating:
Unknown
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