Twitter has finally recorded a significant revenue of $1.01 billion (₦366.6billion) Revenue in the fourth quarter (Q4) of 2019
According to Twitter Chief Financial Officer (CFO), Ned Segal, the social media giant has just reached a new milestone in the Q4 of 2019. “We reached a new milestone in Q4 with quarterly revenue in excess of $1 billion, reflecting steady progress on revenue product and solid performance across most major geographies, with particular strength in US advertising”. Segal informed in a statement.
For the same quarter of 2018, the company’s revenue declined from the $225 (₦81,675) recorded. The earning per share (EPS) also dropped from $0.33 to $0.15 in the same quarter of 2018.
This quarter is the best quarter Twitter has ever had. It is also one of the fastest growth of monetizable daily active users (mDAU). According to the report, the mDAU for Q4 was recorded at 152 million, a significant 21% increase compared to 126 million recorded during the same period in 2018.
Twitter CEO, Jack Dorsey speaking on the matter said, “I see Twitter more as an interest network [rather] than a social network. A rich timeline but also a path to discovering more, getting [users] to a position where they feel a lot more comfortable with participating in a conversation, not just Tweeting at the world but at those with a special interest.”
The company has now revealed that Twitter will now continue to provide a more personalized experience for both consumers and advertisers.