Twitter hit $1 billion in quarterly revenue for the first time, topping expectations and also beating user growth estimates in a rebound from previous troubles with ad platform bugs. eculliford reports $TWTR
Feb 6 - Twitter Inc hit $1 billion in quarterly revenue for the first time, topping expectations and also beating user growth estimates in a rebound from previous troubles with ad platform bugs and unusually low seasonal demand.
Twitter said improvements to its machine-learning models to provide more relevant content and notifications contributed to its growth in average monetizable daily active users . The company’s quarterly revenue rose 11% from a year earlier to $1.01 billion, beating Wall Street expectations of $996.7 million, based on IBES data from Refinitiv. Total advertising revenue was $885 million, an increase of 12% year-over-year.
The company attributed the slower overseas figures to factors including a decrease in a mobile ad product’s revenue in Asia Pacific. But this week’s Iowa caucuses still saw the platform used organically to spread false allegations of voter fraud and conspiracy theories over the delayed results of the first key contest of the election.
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