Tuesday, October 20, 2020

Twitter experiencing user loss

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
For the first time, Twitter completed a whole financial year with black figures and posted record revenues in the fourth quarter. Investors nevertheless reacted negatively to the financial report. The business outlook was below expectations. Twitter is experiencing a user loss.

The revenue climbed in the past quarter by 24 percent to $ 909 million, as the US short message service announced on Thursday.

The business was boosted mainly by the increased demand for video advertising time.

For the full fiscal year of 2018, Twitter made a surplus of $ 1.2 billion compared with a loss of $ 108.1 million the previous year. Despite the strong growth, the forecast for the current quarter is restrained.

Twitter expects sales between $ 715 and $ 775 million. Thus, Twitter earned more than expected. However, the stock of the company fell by eight percent before the stock market.

Because the users were significantly less. The number of monthly users decreased in the period from October to December to 321 million from 330 million in the same period last year.

In the future, Twitter will no longer publish this key figure, which is particularly well-known on the capital market.

Among other things, the management attributed the user loss to the deletion of accounts in order to contain misinformation, hate messages and voter influence.

User numbers in the industry are an indication of future growth potential. Some analysts already fear that Twitter has its best times behind it.

The phase of the red numbers, however, seems to have left Twitter behind.

The profit jumped by 73 percent to 244 million dollars. By the end of 2017, Twitter had breached its break even point for the first time in its almost thirteen-year history.

For the first time the short message service also published the number of its daily users.

This value, which allows for better comparability with rivals like Facebook or Snap, grew 1.6 percent from the previous quarter to 126 million users.

Snapchat last came to 186 million daily active users, Facebook to 1.52 billion.

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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