Twitter revenue exceeded expectations and reached $ 1.01 billion in the fourth fiscal quarter of 2019 thanks to the increased number of users.
Twitter announced the results of the fourth
and last quarter of the fiscal year 2019, and revealed revenues of $ 1.01 billion.
This is thanks to the increase in the number of daily active users that exceeded all expectations, which reached 152 million users.
But despite a jump in revenue and number of employees, the company saw a drop in net income due to the high costs to improve the platform.
According to Twitter’s financial report,
- revenue in the fourth quarter of 2019 of $ 1.01 billion was 11% higher than the same period in the previous year,
While the number of daily active users increased by about 21% compared to the fourth quarter of 2018, an increase from the third quarter of 2019 by about 7 million users.
As for net income, it stopped at $ 195.6 billion, a decline of 20% compared to the same period in 2018.
Speaking of 2019 in general, Twitter has been able to add 26 million daily active users, the company says that is due to the improvement of the platform products and the use environment.
Jack Dorsey, CEO of Twitter,
noted that a renewed privacy and security policy reduced reporting of violations by 27%.
- On the other hand, Twitter has said it is working to rebuild an ad server in the first half of 2020 to improve its results.