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Twitter Beats Expectations With Profitable Quarter
09 February 2018, 11:02 | Cameron Gross
Twitter Beats Expectations With Profitable Quarter
The daily active users number was notably up 12% year over year, marking Twitter's fifth consecutive quarter of double-digit growth in the key metric.
It only took 12 years, but Twitter finally is able to report they have turned a profit for the first time ever in its history.
I've long said that Twitter, with its 300-million-plus users and almost $3 billion in annualized revenues clearly has a business.
Although Twitter's MAUs of 330 million for the quarter were flat, it was up 4% year-over-year.
Twitter (NYSE:TWTR) had its target price raised by equities research analysts at Wells Fargo & Co to $28.00 in a report released on Friday.
It ran 62% more custom measurement studies last quarter than it did the year before, said CEO Jack Dorsey.
The strong financials were a welcome change for Twitter, which has had a bruising quarter as it continues to face criticism over how false information and harassment spread on its network. The stock struggled and couldn't even stay above $20 for the most of 2017 despite DAU growth which more equates to engagement reaching 14% YoY expansion during last Q1.
Our thanks to investment research platformSeeking Alpha for the transcriptions from Microsoft's January 31 Q2 earnings call. Once again Twitter emphasized its commitment to fight with malicious, fake and spammy content with the help of having a more robust system in place. "Plus or minus a relatively small number of users is meaningless", said Brian Wieser, senior analyst at Pivotal Research Group in comments reported by the Wall Street Journal.
Revenue increased 2 percent from a year earlier to a better-than-expected US$732 million. In comparison, Facebook had two billion and Instagram had 800 million users in the last quarter.
Twitter in October had signaled the breakthrough was possible as it slashed expenses.
Twitter shares rose 11.5 percent to $30 a share in premarket trading.
But the fake accounts raise larger questions about Twitter's health as a company. While talking about Performance of the Stock, Twitter, Inc. now has a Weekly performance of 4.26%, monthly performance percentage is 9.43 percent, Quarterly performance is 38.78 percent, 6 months performance shows a percent value of 66.63% and Yearly Performance is 47.37 percent.
Twitter made the biggest tweak to its service in November when it rolled out 280-character tweets (up from 140 characters).
Though the user base of Twitter on a monthly basis lags behind Facebook, Twitter said that its daily active user base has grown in double digits over the years.
"We're seeing a lot more mentions", he said on a conference call with analysts Wednesday. Unlike Facebook, the failure of attracting big-time advertisers who are capable of pouring millions of dollars on ad campaigns is another challenge Twitter is facing.
Twitter also struck deals with media companies for live news and entertainment shows.
As well as new features, Twitter also sought a profit through major cost-cutting.
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