Twitter: another quarter of profitability
(CercleFinance.com) - Shares in Twitter are jumping 13% in pre-market trading on Thursday after the San Francisco-based company said strong revenue performance drove better-than-expected profitability in the third quarter.
Total revenue reached 758 million dollars in the past quarter, up 29%, with advertising revenue also up 29% at 650 million dollars.
Another bit of good news is that the third quarter marked the group's fourth consecutive quarter of profitability, with net income of 789 million dollars according to GAAP methods, compared to a loss of 21 million dollars a year ago.
The messaging platform also reported a rise in active users: the number of daily active users increased by 9% after the company made a number of product improvements, including adding the ability to stream and converse around TV programs.
The only hitch is that total average monthly active users reached 326 million in the quarter, down 4 million from a year ago.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Total revenue reached 758 million dollars in the past quarter, up 29%, with advertising revenue also up 29% at 650 million dollars.
Another bit of good news is that the third quarter marked the group's fourth consecutive quarter of profitability, with net income of 789 million dollars according to GAAP methods, compared to a loss of 21 million dollars a year ago.
The messaging platform also reported a rise in active users: the number of daily active users increased by 9% after the company made a number of product improvements, including adding the ability to stream and converse around TV programs.
The only hitch is that total average monthly active users reached 326 million in the quarter, down 4 million from a year ago.
Copyright (c) 2018 CercleFinance.com. All rights reserved.