Thursday, December 13, 2018Canada's Leading Online Business Magazine

Twitter Posts First Quarterly Profit — Ever

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CBJ — Twitter reached a major milestone by posting its first ever quarterly profit. An unexpected return to revenue growth was greatly enhanced by notable expansion outside the United States. Monthly active users grew by 4% compared with the same time period a year ago, totalling about 330 million users worldwide. Overall revenue was up 2% in the fourth quarter from a year earlier.

Twitter’s consistent inability to turn a profit until now had been a source of frustration for investors given its popularity among celebrities, athletes and politicians such as U.S. President Donald Trump.

Revenue from outside the United States rose 17%.

Shares traded 16% higher at more than $31 per share, reaching their highest level since July of 2015.

Twitter was founded in 2006 and debuted as a public company in 2013 at $26 a share.

Twitter, which has doubled the number of characters allowed per tweet from 140 to 280 and made other changes to attract users, said the number of daily active users rose 12%.

@CanBizJournal

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