Thursday, 8 February 2018

Twitter posts its first quarterly net profitas ad sales rise

Twitter has reported its first quarterly net profit helped by a rise in video advertising sales.

The news gave a massive boost to Twitter's shares which closed 12% up on the day.

That was despite the number of people using the social network coming in below expectations.

Twitter's previous failure to make a profit had confounded investors given its widespread use and popularity among celebrities and politicians.

Net profit was $91.1m (£65m) in the fourth quarter of 2017, compared with a loss of $167.1m for the same period a year ago.
Twitter, which has posted consistent losses since it became a public company in 2013, said it expected to be profitable for the full year of 2018 as well.

BBC      News.

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