Twitter reveals user numbers for first time as profits grow

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Twitter has revealed its daily user numbers for the first time – with financial results showing strong revenue and profit growth.

The social network said 126 million people logged in once a day and saw adverts in the final three months of 2018.

However, statistics also showed that the number of monthly users fell by five million compared with the same period a year earlier – and currently stand at 321 million.

Twitter said the decline was partly due to its efforts to identify trolls and take down malicious accounts.

The monthly figure seemed to disappoint investors, with shares falling 7% in pre-market trading.

The stock was more than 10% down when Wall Street opened after the company admitted costs were expected to leap in the coming months.

It had earlier outlined that video investment and hiring had contributed to a surge in costs over the last quarter – to $704m (£542m)

Other numbers were more positive and beat market expectations.

Revenue growth grew 24% to hit $909m (£700m).

Profits of $255m (£196m) were 180% higher than in October to December 2017.

Wider figures covering 2018 as a whole showed revenue up 25% on the previous 12 months at over $3bn (£2.31bn) for the first time.

Chief executive Jack Dorsey said: “2018 is proof that our long-term strategy is working.

“Our efforts to improve health have delivered important results, and new product features like a single switch to move between latest and most relevant tweets have been embraced by the people who use Twitter.

“We enter this year confident that we will continue to deliver strong performance by focusing on making Twitter a healthier and more conversational service.”

(c) Sky News 2019: Twitter reveals user numbers for first time as profits grow

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