Twitter now has 330 million active users family
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Twitter delivered signs of a turnaround in its fortunes Thursday - narrowing its losses and showing signs toward profitability. The social network, which has struggled to keep pace with rivals, said it could show its first net profit in the coming quarter if the latest trends continue.
Twitter posted a loss of $21 million (roughly Rs. 137 crores) in the third quarter, a marked improvement from the $103 million (roughly Rs. 668 crores) deficit a year ago. Revenues were $590 million (roughly Rs. 3,827 crores), a decrease of four percent from a year ago but not as bad as analysts had feared for the one-to-many messaging platform. In a statement, Twitter said it would "likely" show its first net profit in the fourth quarter if growth reaches the high end of its target.
The company said it had 330 million monthly active users in the quarter ended on September 30, up 4 million from a quarter earlier, helped by greater use of email and push notifications to point people toward tweets they want to read. And Twitter said daily active users - a metric for which it has declined to offer details - rose 14 percent from last year.
Twitter also disclosed in its quarterly earnings report that it had discovered an error in the way it had calculated the size of its user base since 2014 and revised its estimates downward, but that the difference amounted to less than 1 percent.
Twitter said the error in past user estimates was caused when it wrongly counted people who logged into applications associated with the company's Fabric software platform, which Twitter sold this year to Alphabet's Google.
"We're proud that the improvements we're making to the product continue to bring people back to Twitter on a daily basis," chief executive Jack Dorsey said."We're proud that the improvements we're making to the product continue to bring people back to Twitter on a daily basis," chief executive Jack Dorsey said.
The company also is diversifying its revenue further beyond advertising. Revenue from data licensing and other sources was $87 million in the third quarter, up 22 percent from a year earlier, Twitter said, adding that it signed "a significant number of new enterprise deals" in the quarter.The company also is diversifying its revenue further beyond advertising. Revenue from data licensing and other sources was $87 million in the third quarter, up 22 percent from a year earlier, Twitter said, adding that it signed "a significant number of new enterprise deals" in the quarter.
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Twitter delivered signs of a turnaround in its fortunes Thursday - narrowing its losses and showing signs toward profitability. The social network, which has struggled to keep pace with rivals, said it could show its first net profit in the coming quarter if the latest trends continue.
Twitter posted a loss of $21 million (roughly Rs. 137 crores) in the third quarter, a marked improvement from the $103 million (roughly Rs. 668 crores) deficit a year ago. Revenues were $590 million (roughly Rs. 3,827 crores), a decrease of four percent from a year ago but not as bad as analysts had feared for the one-to-many messaging platform. In a statement, Twitter said it would "likely" show its first net profit in the fourth quarter if growth reaches the high end of its target.
The company said it had 330 million monthly active users in the quarter ended on September 30, up 4 million from a quarter earlier, helped by greater use of email and push notifications to point people toward tweets they want to read. And Twitter said daily active users - a metric for which it has declined to offer details - rose 14 percent from last year.
Twitter also disclosed in its quarterly earnings report that it had discovered an error in the way it had calculated the size of its user base since 2014 and revised its estimates downward, but that the difference amounted to less than 1 percent.
Twitter said the error in past user estimates was caused when it wrongly counted people who logged into applications associated with the company's Fabric software platform, which Twitter sold this year to Alphabet's Google.
"We're proud that the improvements we're making to the product continue to bring people back to Twitter on a daily basis," chief executive Jack Dorsey said."We're proud that the improvements we're making to the product continue to bring people back to Twitter on a daily basis," chief executive Jack Dorsey said.
The company also is diversifying its revenue further beyond advertising. Revenue from data licensing and other sources was $87 million in the third quarter, up 22 percent from a year earlier, Twitter said, adding that it signed "a significant number of new enterprise deals" in the quarter.The company also is diversifying its revenue further beyond advertising. Revenue from data licensing and other sources was $87 million in the third quarter, up 22 percent from a year earlier, Twitter said, adding that it signed "a significant number of new enterprise deals" in the quarter.
So that's all for today I'll be back soon with a new post..
#your_support_matters ๐
#keep_supporting๐
#owner_ash ๐
comment your views about this post in comment section
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