Twitter recently unveiled their first quarter performance and they managed to beat most earnings forecasts. The social media platform managed to tally positive figures from their previous quarter, and shares trades higher as upbeat reports take headlines.
The social media giant managed to create the exciting and stellar figure for their first quarter. They also added an additional report in the market; they announced that they are looking to expect a profitable 2018 after the incredible Q1 performance.
All-in-all, Twitter is looking to produce great and promising results as they continue to rally forward. This is the second straight quarter that the social networking giant managed to produce. Furthermore, this is the second best quarter that they managed to produce.
Twitter Q1 Incredible Results
Starting the stellar figures, the company’s earnings per share managed to hit the 16 cents figures. The report was better than what most of the forecasts and prediction which was at a general consensus of about 12 cents.
One of the highlights Twitter had was with its revenue. The company managed to garner whopping revenue which was reported to be at $655 million. The revenue also managed to overtake the forecasts which were at a modest $608 million.
To add, the social media giant also tallied positive data from new and existing users they have from the quarter. They managed to report a total of 336 million of monthly active users, inches higher than the expected 334.2 million.
According to Twitter, the growing monthly active user is from their easier platform and interface. The upgraded convenience made it easier for people to navigate the site and look for topics that peek their interest easily.
The positive quarter followed the previous one which also tallied stellar results. Twitter’s previous quarter managed to report a whopping 21% increase in their revenue on a year over year outlook.
Twitter CFO Notes
Twitter’s CFO Ned Segal told reporters that, “Sentiment is much better, the ROI that they are seeing from their advertising on Twitter is much better based on lower cost per engagement and more ad engagement and more ad engagement, and that causes them to put more money onto the platform than they might have before.”
Analysts have predicted Twitter’s upbeat quarter. According to them, the growing revenue from advertising has kept the social media giant at a great pace as advertisers continue to move on to the digital realm
Segal noted that “This is the second quarter in a row where that’s been the case. There is still a lot more room to improve that as we get more video and more compelling ad formats in front of our advertiser’s customers on Twitter.”
BWorldFinance is your primary source of news in the financial market, technology, and more. Visit bworldfinance.com now and get the latest happenings on the market. Register an account now and begin your investing journey!