BUSINESSSocial Media

Twitter Nets $1 Billion In Quarterly Revenue For The First Time

Twitter just released its Q4 earnings report today. From the report, the California based social media company was happy to announce that for the first time, they have managed to hit the $1 Billion mark in quarterly revenue.

In the quarter ended 31st December, Twitter raked in $1.01 billion in revenue, up 11 per cent year-on-year. The company’s primary market is still the US, as more of the income made in the quarter was from the local market.

Twitter made $591 million in the US for the quarter – up 17 per cent – and only $416 million for the international market, representing a 3 per cent increase. Japan still stands out as the company’s second promising market, according to the report. From its core business – advertising – Twitter made $885 million, up 12 per cent.

For the period, the company banked $153 million in operating income, a slump from a similar period a year earlier. In the report, the company flagged “ongoing investments across our top initiatives to drive growth and better serve the public conversation,” as the main reason for the slump.

The company reported it had 152 million daily active users, which it now terms as Monetizable Daily Active Usage(mDAU). The numbers have jumped 21 per cent, which the company says was “primarily driven by product improvements, including increased relevance in the Home timeline and notifications.”

The net income for the period totalled to $119 million, down from $255.3 million the previous year.

Twitter -The fiscal Year 2019

For the whole of 2019, Twitter’s revenue totalled $3.46 billion, an uptick of 14-15 per cent. The company’s operating income stood at $366 million for 2019.

“We expect to grow headcount by 20% or more in 2020, especially in engineering, product, design, and research,” said the company in the report.

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Alvin Wanjala

Alvin Wanjala has been writing about technology for over 2 years. He writes about different topics in the consumer tech space. He loves streaming music, programming, and gaming during downtimes.

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