Twitter Reports its First Ever Profitable Quarter

By Olga
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    Yesterday, Twitter reported a $91 Million profit for the fourth quarter ended December 2017. This is its first ever quarter with profits in almost 12 years of existence.

    Twitter Reports its First Ever Profitable Quarter

    Its revenue for the quarter in review had been $ 732 million which is a 2% jump in comparison to last year.

    Interestingly, Twitter had not added any new users in the last quarter. It has 330 million users, which is 4% higher than last year but same as Q3.

    After the results were announced, its stocks went up by almost 16% at the New York Stock Exchange (NYSE).

    As per a Reuters report based on an analysis of Twitter's income statement, the increase profits could be a result of the decrease in:
    1) Stock-based compensation, or stock awards given to employees as part of their salary
    2) research and development
    3) sales and marketing

    Read more about: twitter twitter q4 profit
    Story first published: Friday, February 9, 2018, 10:53 [IST]
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