Friday, 09 February 2018 08:09

Twitter finally reports a profit Featured

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Social media company Twitter has reported its first ever quarterly net profit, of US$91.1 million, in the final quarter of 2017, compared to a loss of US$167 million a year prior.

The good news for the company, which went public in 2013, came as its monthly active users in the US dropped by a million from 69 million in the third quarter.

Revenue went up by two percent quarter-on-quarter to US$731 million, the first upward move since the last quarter of 2016.

The company reported that it had 330 million monthly active users for the quarter, which represented no change from the third quarter, but a 4% increase on the corresponding quarter a year ago.

But analysts had predicted that the social media site would have 332.5 million monthly active users, according to the financial data and analyst company FactSet.

Twitter said that its usage was affected by changes that Apple made to its Safari browser. It claimed that the user tally was cut by two million as a result of these changes.

The company, which has been accused by US legislators of contributing to the delige of bogus news reports that are alleged to have affected the outcome of the 2016 US presidential election, said it had increased its vigilance to cut out spam, bots and bogus accounts.

In the last year, Twitter has doubled the number of characters in a tweet from 140 to 280 and taken steps to reduce the harassment of minorities and women. Live news and entertainment content have been added to the feed, through third-party deals.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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