Twitter reports first-ever profit, boosting shares
Twitter on Thursday reported its first-ever quarterly profit, delivering a boost to shares of the social network which has been lagging for years against fast-growing rivals.
The San Francisco-based messaging service said it earned $91 million in the fourth quarter, the first positive net income since going public in 2013.
Revenue was up two percent from a year ago to a better-than-expected $732 million, while the number of monthly active users rose modestly to 330 million.
Twitter shares surged nearly 15 percent in pre-market trade on the news.
The profitability marks a milestone for Twitter, which has lost money consistently since its public offering, sparking speculation on whether it needed to sell itself to keep operating.
Chief executive Jack Dorsey welcomed a strong finish to the year, and added I'm proud of the steady progress we made in 2017, and confident in our path ahead.
(2018/02/09 12:53)Click Here for Japanese Translation
AFP-JIJI PRESS NEWS JOURNAL
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