Twitter reports first quarter of $1 billion in revenue
Twitter Inc. cracked $1 billion in quarterly revenue for the first time this holiday season, topping expectations, though the social-media company’s profit came up short.The company reported net income of $119 million, or 15 cents a share, down from $255 million, or 33 cents a share, in the year-earlier quarter. Adjusted earnings per share came in at 25 cents, compared with 31 cents a year prior. The FactSet consensus was calling for 29 cents.
The social media company added 7 million monetizable daily active users users on a sequential basis during the period, bringing its total count up to 152 million. The FactSet consensus was calling for 2 million net new additions.The results from Twitter come as fellow advertising-driven companies Facebook Inc., Alphabet Inc., and Snap Inc.
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