Twitter: posts rise in revenue and profit; adds more users
(CercleFinance.com) - Twitter reported higher quarterly revenue and profit on Tuesday as the social media company added more users to its platform.
The San Francisco-based firm said first-quarter revenue rose by 18% to 787 million dollars.
With costs and expenses also increasing by 18%, at 693 million dollars, Twitter managed to generate a net income of 191 million dollars over the period.
Excluding the impact of a tax benefit of 124 million dollars related to deferred tax asset for corporate structuring, adjusted net income was still positive, at 66 million dollars.
Average monetizable daily active users (mDAU) - i.e. the number of people who see ads daily - rose to 134 million in the first quarter, the company said.
This compared to just 120 million in the first quarter of 2018 and 126 million in the fourth quarter of 2018.
CFO Ned Segal said the company has "never been more confident" in its
strategy and execution, seeing a "great opportunity" to increase its
audience.
Twitter shares are up 2% in pre-market trading on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The San Francisco-based firm said first-quarter revenue rose by 18% to 787 million dollars.
With costs and expenses also increasing by 18%, at 693 million dollars, Twitter managed to generate a net income of 191 million dollars over the period.
Excluding the impact of a tax benefit of 124 million dollars related to deferred tax asset for corporate structuring, adjusted net income was still positive, at 66 million dollars.
Average monetizable daily active users (mDAU) - i.e. the number of people who see ads daily - rose to 134 million in the first quarter, the company said.
This compared to just 120 million in the first quarter of 2018 and 126 million in the fourth quarter of 2018.
CFO Ned Segal said the company has "never been more confident" in its
strategy and execution, seeing a "great opportunity" to increase its
audience.
Twitter shares are up 2% in pre-market trading on Tuesday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.