Twitter posts first profit

Twitter has announced its first quarterly profit and higher-than-expected revenue.

The company reported fourth quarter revenue of $732 million, an increase of 2% year-over-year.

“Q4 was a strong finish to the year,” said Jack Dorsey, Twitter CEO.

“We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double digit [daily active user] growth.”

Twitter’s average monthly active users were 330 million for the quarter, which was flat quarter-over-quarter and up 4% year-over-year.

Total annual revenue was $2.4 billion, a decrease of 3% year-over-year. Twitter’s GAAP net loss narrowed to $108 million and a net margin of 4% in 2017.

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Twitter posts first profit