Twitter reports profit for second quarter in a row and adds 6m

first_imgInternet Share on Twitter Last modified on Wed 25 Apr 2018 17.00 EDT Read more Share on Facebook Share via Email Shares2020 Wed 25 Apr 2018 10.12 EDT Share on Facebook Tech firms could face new EU regulations over fake news Digital media Topics … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Share via Email Share on Twitter Twitter Share on LinkedIn This article is more than 1 year old Since you’re here… @dominicru Blogging news It’s taken 12 years, but Twitter is now a money-maker. The social media company reported its second profitable quarter on Wednesday, driven by a 10% rise in users and faster growth overseas. This article is more than 1 year old Twitter Share on Messenger Company posts first-quarter profit of $61m on revenues of $665m, comfortably ahead of analysts’ expectations Twitter has struggled since it went public in 2013 and user growth has slowed dramatically. But while its US base is still declining, the company now seems to have found a rich source of international growth.In its first financial quarter, Twitter’s revenue rose 21% from a year earlier to $664.9m, comfortably ahead of analysts’ expectations, and posted a profit of $61m, compared with a loss of $61.6m in the same quarter last year.Twitter’s daily active users (DAU) rose 10% year-over-year, while monthly user numbers rose 3% to 336m. The company added 5 million people outside the United States and a million inside its home market.Twitter now has 69 million monthly users in the US, 1% lower than this time last year, and 267 million internationally.Twitter struggled for years to make a profit and its internal problems led to an exodus of executives and layoffs. Co-founder Jack Dorsey rejoined the company as chief executive last May and the company set a goal of “driving towards” profitability.Advertising revenue rose 21% to $575m over the quarter, with strong growth in Asia.As with its peers, Twitter is facing a backlash over the misuse of its platform by parties spreading fake news and hate speech. Twitter said it expects to increase its headcount by 10-15% in 2018 as it seeks to tackle the issues.Doresey said: “The first quarter was a strong start to the year. We grew our audience and engagement, marking another quarter of double digit year-over-year DAU growth, and continued our work to make it easier to follow topics, interests, and events on Twitter.” Despite the profits, Twitter has been widely condemned over the misuse of its platform by parties spreading fake news and hate speech.Photograph: Nicolas Asfouri/AFP/Getty Images Support The Guardian Dominic Rushe in New York Share on Pinterest Share on WhatsApp Twitter reports profit for second quarter in a row and adds 6m new users Reuse this contentlast_img

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