Twitter Inc on Thursday delivered its first quarterly profit and an unexpected return to revenue growth helped by expansion outside the United States, pushing shares in the social network to more than two-year highs.
When excluding revenue from Twitter's direct response advertising product, TellApart, from year-over-year comparisons (TellApart was fully deprecated for the length of Q4 2017), consolidated revenue was up 8% year over year. Advertising revenue increased 1 percent to $644 million.
Twitter shares rose 11.5 percent to $30 a share in premarket trading.
The number of monthly active users was 330 million, unchanged from the prior quarter but up four percent from a year earlier. The Verge speculates that it's possible that advertisers were reluctant to spend money on Twitter while the company faces major harassment issues. The upside is the daily active user figures have increased by 12 percent year-on-year, so the people who use Twitter are now using it more often. Analysts expected 3 million more monthly active users during fourth quarter to get to 333 million. The only reason overall user growth has continued is because it remains slow but steady internationally. CTR also benefited from the growth of more engaging video products in Q4 such as the Video Website Card and Video App Card. Wall Street is pleased that the losses have been wiped out, and Twitter stock was up 25 percent. Net cash provided by operating activities in the year amounted to United States dollars 831 million, an increase from 763 million year-on-year. According to their predictions high & low revenue estimates are 702.8 Million and 663.9 Million respectively. A new agency resource center for mid-sized digital agencies drove an increase in revenue from smaller ad agencies, the company reported. For the full-year the company plans to see capital expenditures between $375 million and $450 million. In addition, Twitter believes that the relatively-new ability to "thread" tweets has pleased Seth Abramson plenty of users. We've said it before, but we'll say it again as it is not something we expected to write, this is Twitter's first ever quarter of profitability. "This is all about really looking at the potential of revenue growth as they scale and leverage their cost structure", he said.
"Q4 was a strong finish to the year", Twitter CEO Jack Dorsey saidin a statement. The firm also struck deals with media companies for live news and entertainment shows to attract more users.
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"We're not going to have to do any backfilling", Dorsey said. OppenheimerFunds Inc. now owns 10,088,428 shares of the social networking company's stock worth $150,822,000 after purchasing an additional 2,999,690 shares in the last quarter.
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Pasqualoni coached the Orange from 1987-2004 and Patricia was a grad assistant for Syracuse during the early 2000's. Before joining the Patriots , he worked at Syracuse, Amherst and his undergraduate alma mater Rensselaer.
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The pulldown menu's "Friends" tab will feature quick access to specific friends that are featured in your custom list. Background Music on PS Now: This allows one to listen to their favorite tracks while streaming games through PS Now.
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