Wednesday 17 July 2019

Twitter reports growth in revenue and profit but monthly users fall

Rival social media platform Facebook has more than two billion active users

Stock photo
Stock photo

Martyn Landi

Twitter has reported growth in revenue, profit and daily active users as the social media site published its latest set of financial results.

The micro-blogging platform revealed revenue had risen 24pc on this time last year to $909m, while net income rose from $91m to $255m.

The number of people using the site each day was up 9pc on this time last year to 126 million, and up two million on the previous quarter, but the number of people using the site on a monthly basis fell from 326 million in the previous quarter to 321 million in the last three months.

In contrast, rival social media platform Facebook has more than two billion active users.

Twitter founder and chief executive Jack Dorsey said the results were "proof" that the company's long-term strategy of focusing on improving the quality of discussion on the site was working.

"Our efforts to improve health have delivered important results, and new product features like a single switch to move between latest and most relevant tweets have been embraced by the people who use Twitter," he said.

"We enter this year confident that we will continue to deliver strong performance by focusing on making

Twitter a healthier and more conversational service."

Earlier this week Mr Dorsey revealed the company was exploring ways to introduce a much-requested edit button to the platform - suggesting a time limit window could be introduced to allow users to edit tweets and post the original alongside for transparency.

High-profile users such as Kim Kardashian have been among those calling for the change.

The company has previously changed key aspects of its services - in late 2017 it chose to double its character limit from 140 to 280 characters per tweet.

PA Media

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