Overall, Q1 2018 was Twitter‘s second-straight profitable quarter, with the social platform raking in $665 million in revenue during the first three months of the year. The business’s quarterly revenue was up 21.3% compared to the same quarter past year.
“Video remains an important component of the experience on Twitter, allowing people to post relevant live broadcasts or video clips”.
As for Canadian data, Twitter said Q1 live streaming partnerships with top media brands such as CBC, CTV, VICE, Sportsnet and Maclean’s. The company is also seeing more traction from videos, which now make up more than half of its total ad revenue.
The company focused on making Twitter easier to use with the launch of a new Bookmarks feature and video timestamps, as well as making it easier for users to follow topics, interests and events, including curated timelines of tweets around breaking news events. The company’s stock rose 14.76% while stock markets declined as Jabre Capital Partners Sa sold 243,000 shares.
Twitter noted that the most of the increase in adjusted earnings was due to the decline in the blended US federal and state statutory tax rate as a result of the 2017 Tax Cuts and Jobs Act. “They are continuing to position themselves so expectations don’t get out of control”. In the first quarter, the company said it removed more than 142 000 applications connected to Twitter that violated developer rules and were collectively responsible for more than 130m “low-quality” tweets during the same period. Meanwhile, average daily users grew by 10 per cent from Q1 2017.
But what may or may not be growing is Twitter’s foray into programmatic. No word from Twitter management on how those efforts are panning out.
ARK Invest Analyst James Wang and Barron’s Senior Editor Tiernan Ray on Twitter’s first-quarter results and outlook.
Dorsey fielded multiple questions about the impact that it could have on Twitter’s business. Changes to TweetDeck and Twitter resulted in 90% fewer fake or bot accounts.
“We feel really good about the data business, especially with all of the conversation going on”, Dorsey said. By comparison, Twitter’s ad sales business was shrinking this time previous year. Internationally, MAUs grew to 267 million users from 262 million. (NYSE:TWTR) rating on Friday, October 27. Net income attributable to Facebook shareholders rose to $4.99 billion, or $1.69 per share, from $3.06 billion, or $1.04 per share, a year earlier.
The whipsaw was due to Twitter’s honest assessment of its growth projections for the rest of the year. Net profit improved to Dollars 61 million from a loss of USD 62 million a year ago, helped by a USD 21 million boost from the cut in United States tax rates. Needless to mention that Facebook is facing deeper and severe issues related to data abuse and privacy.