Elon Musk took control of Twitter on Thursday, completing the historic $44 billion acquisition of the social micro-blogging platform. After some housekeeping — including carrying a sink into the company’s San Francisco headquarters for a cheeky video-op (“let that sink in!”) and firing top executives including CEO Parag Agrawal — the recalcitrant tech magnate began settling into his new role. Updating his bio to reflect his chosen title of “Chief Twit,” he tweeted off a letter assuring advertisers that Twitter will not “become a free-for-all hellscape” with no content moderation. Continue reading New Era Begins for Twitter as Elon Musk Acquires Company

Twitter net income dropped 20 percent in Q4, but the company posted revenue gains for both the quarter and the year, up 22 percent to $1.57 billion for the three months ending December 31, and 37 percent for the year, which closed at just over $5 billion. Net income was $182 million in Q4, versus $222 million in 2020, due to increased costs in areas such as hiring and marketing. Twitter announced a $4 billion stock buyback and said it would maintain its aggressive Q4 2023 goal of 315 million monetizable Daily Active Users (mDAUs). Continue reading Twitter Revenue Tops $5 Billion in 2021, Up 22 Percent in Q4

Since launching in 2006, popular social service Twitter has remained largely unchanged. The company is now planning a wide-ranging series of new products with the goal of attracting new users. They include ephemeral content, an audio chat service, a newsletter platform, moderation tools and, most recently, new options to pay for exclusive content from some users and to launch communities for specific interests. By 2023, the company hopes to double its user base from its 2019 level and its revenue from 2020 levels. Continue reading Twitter Innovates to Lure New Users, Double Revenue by 2023

Since Twitter banned former president Trump, the company said daily users rose to 192 million from Q3’s 187 million, including one million in the U.S. In January, the social platform gained more daily users than the average month in the last four years. Twitter chief exec Jack Dorsey revealed that 80 percent of its user base is outside the U.S., adding that it is “not dependent upon just news and politics.” The company is looking to expand and continue development of a decentralized social network. With regard to banning Trump, chief finance officer Ned Segal said the decision was well received by advertisers. Continue reading Twitter Experiences Subscriber Growth and Plans Expansion

The majority of Twitter’s revenue comes from targeted advertising, but the company is now developing a subscription product that it has considered for years to create a new revenue stream. According to eMarketer, Twitter’s portion of the global digital ad market remains at 0.8 percent and has grown at a slower pace than those of Facebook and Snap. Its U.S. user base has also leveled off. The COVID-19 pandemic and pressure from investors to drive growth are other factors influencing Twitter’s decision to move forward. Continue reading Twitter Considers New Strategies for More Revenue Streams

In the quarter ending June 30, Twitter’s number of daily users rose 12 percent from the previous quarter to 186 million, while revenue dropped 19 percent from a year earlier to $683 million. The former number surpassed the expectations of analysts polled by FactSet whereas the latter was below the predicted $702 million estimate. It adds up to a $1.23 billion loss, impacted by a reversal of a $1+ billion tax benefit in 2019. Twitter has not provided forecasts for revenue or operating income in its latest earnings report. Continue reading Twitter Reports Increase in Daily Users But a Drop in Revenue

In Q1 2020, Twitter reported 24 percent year-on-year (YoY) increase in daily active users to 166 million, which it said is at least in part to the coronavirus pandemic. Although Q1 earnings beat estimates, the company’s advertising business slowed, which Twitter also attributes to the pandemic. Stock was up 12 percent during premarket trading on news of the report, but then fell 7.8 percent during the earnings call because executives didn’t reassure investors that the advertising slump would recover or stabilize. Continue reading Twitter Sees More Daily Active Users But Advertising Declines

Twitter’s shares dropped 20 percent with the news that revenue and profit in Q3 were below Wall Street expectations. The company added six million more users in Q2 — for a total of 145 million — likely due to changes that allow users to follow content of greatest interest to them. Twitter also reported that its machine learning-enabled tools now remove fully half of all the abusive tweets on its platform without relying on anyone to report them. This change is much welcomed given the platform’s persistent problem of abuse. Continue reading Twitter Tackles Abusive Tweets, Ad Glitches Hurt Revenue

Twitter has been investing in monitoring, removing offensive and inappropriate content and debuting tweaks, a job started by former chief financial officer Anthony Noto. The company is also rolling out an automated tool that will be on the lookout for “troll-like” behavior. This attention to the concerns of marketers has paid off, as Twitter just posted its second profitable quarter as a public company. But chief financial officer Ned Segal believes there is more to do to make the platform more stable and successful. Continue reading Twitter Grows its Daily Users, Debuts Automated Anti-Troll Tool