Twitter Turned in a Profit For The First Time, Shares Surge

Twitter Turned in a Profit For The First Time, Shares Surge

Twitter launched new features to thread multiple tweets together and to expand the character limit to 280 from 140, which provides more space for people to express their opinions.

Twitter reported its first profit as a public company on Thursday, a major step as it grapples with persistent criticism over fake accounts on its social network and questions over its prospects for long-term growth. Q4 revenue was $732 million which was an increase of 2% year on year, of which advertising is still the biggest money maker ($644 million). The adjusted fourth quarter profit and revenue came in above street targets.

Twitter's average monthly active users were 330 million for the quarter, which was flat quarter-over-quarter and up 4% year-over-year.


""We're pleased with our performance in 2017 and our return to revenue growth in the fourth quarter", Ned Segal, Twitter's CFO said in a press release". "I'm proud of the steady progress we made in 2017, and confident in our path ahead".

Net income came in at $91m compared with losses of $167m in the same period of 2016, while operating earnings of $308m massively outpaced analysts´ expectations of $241m. Annual revenue slipped to $2.44 billion in 2017, down 2.0 percent from $2.53 billion in 2016.

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