Twitter is the latest tech company to publish its results for Q1 2020, revealing that its quarterly revenues grew by 3% year-on-year to $808m, with a similar “strong start to the quarter that was impacted by widespread economic disruption related to Covid-19 in March” story to its peers.
Twitter averaged 166 million ‘monetisable daily active users’ (mDAUs – it prefers to measure the users who it can make money from) in the first quarter of this year, up by 24% year-on-year. “This is our highest reported year-over-year growth rate to date,” claimed Twitter – note, it meant since it had been using the mDAU metric, not since Twitter was founded – citing “typical seasonal strength, ongoing product improvements, and global conversation related to the COVID-19 pandemic”.
The bad news for Twitter was that it swung from an operating profit of $94m in the first quarter of 2019 to an operating loss of $7m in Q1 2020.
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