Twitter Inc reported a better-than-expected 24 percent increase in fourth-quarter revenue on Thursday, helped by growth in its video advertising business.
The social media company posted a decline in monthly active users, due in part to its campaign of deleting millions of abusive accounts after facing criticism it was being used as a platform for political influence operations and hate speech.
Overall revenue rose to $909 million in the quarter, beating Wall Street’s average estimate of $868.2 million.
Total advertising revenue rose 23 percent to $791 million. More than half that revenue came from video ads placed by corporate clients.
Revenue from data licensing and other non-advertising businesses rose 35 percent from a year earlier to $117 million.
Twitter reported quarterly profit, excluding some items, of 31 cents per share. Analysts had expected 25 cents, on average, according to IBES data from Refinitiv.
The number of average daily active users exposed to Twitter ads, a new figure disclosed by the company, rose to 126 million in the fourth quarter from 115 million a year ago and 124 million in the previous quarter.
Monthly active users totaled 321 million. That was in line with analysts’ forecasts, but down from 330 million a year earlier and 326 million in the third quarter. Twitter said that after the current quarter it would stop disclosing monthly active users, a statistic that has become standard among internet companies over the last decade.
For the current quarter, Twitter said it expected total revenue to be between $715 million and $775 million. Analysts are expecting about $765 million, on average.
Twitter said it expects operating expenses to rise about 20 percent year-on-year in 2019 due to efforts to improve its service, above analysts’ average estimate of 12 percent.
It expects capital expenditures to be between $550 million and $600 million, well above analysts’ average estimate of $415 million for 2019.
Source - Reuters
Turkey to open doors to 31 countries for health tourism
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
How will Nenskra HPP Reduce the Electricity Import?
Carrefour: The product will be on the shelves with the prices same as before
Differences between tobacco and nicotine products
OECD cuts 2020 global growth forecast over virus
Georgia to export new armored vehicle Didgori Meomari
"Hotels are in shock, reservations are canceled" - Shalva Alaverdashvili
Georgian brand Entrée enters the UK market and opens its first facility in London
Frontera claims that Georgian government has started harassing the company since 2013
Company HotelFriend offers convenient eComerce platform to Georgian Touroperators
Will the head of "Anaklia Deepwater Port Development Agency" be replaced?
TOP-10 Exporter Companies from Georgia to Russia
TBC Bank Group announces certain changes to the composition of the Management Board
Silknet signed Memorandum of Understanding with Global Communications Company One Web
Prosecutor’s Office allows Avtandil Tsereteli to leave the country
Mamuka Khazaradze: We want to avoid arbitration, but the Consortium is ready for that
Reuters: Dutch city tells floating Georgian monastery to cast off
TBC Bank Group Shares up by 6.3% WoW on the LSE