Shock news! A social network that isn’t Facebook *can* be profitable after all. Twitter’s latest quarterly financials included an important milestone for the company: its first quarter in the black.
The company’s revenues of $732m in the fourth quarter of 2017 were up 2% year-on-year, but it flipped from a net loss of $167m in Q4 2016 to a net profit of $91m a year later.
There’s gold in them thar tweets after all. Possibly.
Which is not to say Twitter doesn’t still face problems. The company averaged 330 million monthly active users in the final quarter of 2017, up just 4% year-on-year and flat quarter-on-quarter. The much-bigger Facebook, as a comparison, saw its monthly active users grow by 14% in the same period (to 2.13 billion).
Something interesting to anyone wondering how Twitter’s new 280-character tweet limit has been affecting things: “People who have more room to Tweet receive more engagements (likes, Retweets, @mentions), get more followers, return more often, and spend more time on Twitter,” claimed the company.