UNITED STATES (OBSERVATORY) – Twitter, which owns the same microblogging network, received a net profit for the first quarter of 2018, its revenue growth and the number of active users was higher than the market forecasts.
As reported in the company’s press release, net profit in January-March was $ 61 million, or 8 cents per share, compared to a loss of $ 62 million, or 9 cents per share, recorded in the same period a year earlier.
At the same time, adjusted earnings in the previous quarter were $ 123 million, or 16 cents per share. Twitter revenue increased 21.3% year-on-year to $ 664.871 million, while revenue from advertising also grew 21% year-on-year to $ 575 million.
Analysts polled by FactSet expected adjusted earnings of 11 cents per share on revenue of $ 608 million.
Average number of active users (account activity at least once a month) Twitter at the end of March was 336 million, which is 6 million higher than the previous quarter. Experts expected an increase in the number of users by 4 million people.
Twitter explains that the growth of users was restrained due to changes in application integration in the Safari browser, as well as “due to efforts to improve the quality of information” in the social network. At the same time, analysts had expected an increase in the number of users by only 4 million.
Twitter shares quotes on electronic trading on Wednesday jumped by 3.4%. The company’s capitalization since the beginning of the year increased by 27% to $ 23.5 billion.