Quarterly revenue on Twitter exceeded $1 billion for the first time
Quarterly revenue from Twitter for the first time exceeded US$1 billion, writes TechCrunch. In the fourth quarter of 2019, it was US$1.01 billion, according to TechCrunch.
However, net income decreased from US$255 million in the fourth quarter of 2018 to US$119 million for the same period of 2019. Earnings per share fell from US$0.33 to US$0.15. Analysts expected revenue at an average level of US$997 million from earnings per share of US$0.29, writes TechCrunch.
The monetized audience of the social network increased by 21% and reached 152 million active users per day. The company explained the growth by updating the algorithms: now users see more appropriate content in their feed.
After the publication of reports, the company's shares grew by 16.33% to US$38.82 by 23:45 Singapore time. Market capitalization of the social network on February 6, 2020 increased by US$5 billion and reached US$30 billion.