Twitter, just like most social media platforms, has seen a surge in usage numbers. In its Q1,2020 report, the company says it the number of daily active users(DAU) grew to 166 million.
In the three months ending March 31, the company grew its numbers from 134 million in a similar period in 2019, the most substantial yearly growth ever reported by the company. This represents a 24% year over year growth which was “driven by typical seasonal strength, ongoing product improvements, and global conversation related to the COVID-19 pandemic,” the company said.
Compared to the period ending December, the company added 14 million more DAUs which Twitter prefers to call as Monetizable Daily Active Usage (mDAU).
Unprecedented growth didn’t save the company’s quarterly revenue, however. As it turns out, Twitter registered its first loss since 2017 due to the decline in advertising.
The company’s business was severely affected from early March to the end of the month when the pandemic went global, with millions of businesses shutting down. The shutdown in the US, Twitter’s primary market, which started in March, was a significant hit to the company.
During the period, the company’s revenue stood at $808 million, up 3 percent year-over-year.
“These are unprecedented times for Twitter and the world, and we are incredibly grateful for our team and their focus and resilience. Our work has never been more important,” the company said in its earnings letter to investors.
“As our work continues we will remain focused on the health and safety of our people, our partners, and our communities.”