Twitter Posts Solid Q1 Report
CBJ — Twitter is getting a lot of attention today. First, the social media giant announced a very strong earnings report for its fiscal first quarter. Second, U.S. President Donald Trump chimed in with his annoyance and claims the site is discriminating against him politically. Trump claims he should have close to 100 million followers, but many of his followers are denied by Twitter — according to the president. As of now the 72-year-old Trump has just shy of 60 million followers.
In terms of financial numbers, Twitter said the net income for the first three months of the year rose on strong advertising demand. Daily users rose 11% to 134 million for the first quarter of 2019, thanks to both “organic growth as well as ongoing product improvements and marketing.”
The San Francisco company started disclosing its daily user base in the previous quarter. These are users who log into the site at least once a day and see advertisements on the platform. Twitter says daily metric will replace its monthly user count, which it will stop disclosing.
The company posted profit of $190.8 million, or 25 cents per share, for the first quarter.