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Twitter user growth hits record highs but bottom line turns to loss in Q1

2020-04-30 14:12:00| Telecompaper Headlines

(Telecompaper) Twitter lifted daily user numbers by almost a quarter in Q1 but reported results under expectations, impacted by the coronavirus pandemic. Revenues for the quarter rose 3 percent year-on-year to USD 808 million, reflecting a strong start to the quarter and later heavy hit by the covid-19 virus. Twitter said reduced expenses partially offset the revenue shortfall, resulting in an operating loss of USD 7 million, against a profit of 94 million the year before. The net loss went to USD 8 million, with a diluted loss per share of USD 0.07, from a profit of 191 million and 0.25 per share.

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Category:Telecommunications

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