sunny.png
Friday July 19th, 2019 7:14PM

Twitter posts bigger 4Q profit, monthly user base slips

By The Associated Press
Related Articles
  Contact Editor

NEW YORK (AP) — Twitter's revenue and profit and its daily user base all grew in the final three months of 2018, capping its first profitable year.

But its monthly user count slipped and guidance for the current quarter was below expectations, sending shares down 10 percent at the opening bell Thursday.

The San Francisco company disclosed its daily user base count for the first time, putting the figure at 126 million, up 9 percent from a year earlier. These are users who see ads on the platform and log in at least once a day.

Twitter posted earnings of $255 million, or 33 cents per share, in the October-December quarter. That is up from $91 million, or 12 cents per share, a year earlier.

Revenue grew 24 percent to $909 million.

Analysts polled by FactSet were expecting earnings of 25 cents per share and revenue of $867 million.

Its monthly user base fell to 321 million, from 326 million. Twitter attributed the decline to sending fewer email notifications, moving away from its SMS service with phone carriers and working to cut down malicious accounts and focusing on the "health" of conversations on its service. It said abuse reports from people who interacted with their harasser declined 16 percent from a year ago, though it did not give overall numbers.

The company had an increase in daily users who log in to Twitter on a mobile device versus those who use only desktop computers. Suspicious accounts, such as those run by bots to send spam or game the service in some other day are much more prevalent on desktop computers than on mobile.

Expenses increased 13 percent to $704 million as Twitter added more employees and from revenue share costs related to its video offerings.

For the current quarter ending in April, Twitter said it expects revenue in the range of $715 million to $775 million. Analysts surveyed by Zacks had expected revenue of $762.5 million, which is higher than the midpoint of the company's outlook.

Dan Morgan, a senior portfolio manager at Synovus Trust Co. who focuses on tech stocks, said the quarter was a strong one, but investors are selling the stock because of the guidance.

Twitter's stock fell $3.53, or 10.4 percent, to $30.62. The stock has traded between $25.76 and $47.79 in the past 52 weeks.

__

Elements of this story were created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TWTR at https://www.zacks.com/ap/TWTR

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Technology News
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Twitter posts bigger 4Q profit, monthly user base slips
Twitter says it grew its revenue and profit, along with user base, for the final three months of 2018
7:23AM ( 10 minutes ago )
The Latest: Britons could face Europe roaming charges again
The British government says Britons traveling in Europe could face a steep hike in mobile phone charges after Brexit
7:21AM ( 13 minutes ago )
The Latest: Juncker tells May no renegotiation on Brexit
European Commission President Jean-Claude Juncker has told British Prime Minister Theresa May in talks in Brussels that her 27 EU partner countries will not renegotiate their Brexit divorce agreement
7:10AM ( 24 minutes ago )
Associated Press (AP)
UK leader May is in Brussels seeking Brexit breakthrough
British Prime Minister Theresa May reopened talks with the European Union on the Brexit agreement and was bracing for a clash with EU presidents Donald Tusk and Jean-Claude Juncker during a day of divorce negotiations
6:43AM ( 50 minutes ago )
Gucci pulls 'blackface sweater' from stores after complaints
Gucci has apologized for a wool sweater after complaints that it resembled blackface makeup and said the item had been pulled from its online and physical stores
6:30AM ( 1 hour ago )
Dutch students march for better climate policies
Thousands of students are skipping classes to join a march in support of more ambitious climate policies in the Netherlands
6:28AM ( 1 hour ago )
AP Business
The Latest: Britons could face Europe roaming charges again
The British government says Britons traveling in Europe could face a steep hike in mobile phone charges after Brexit
7:21AM ( 13 minutes ago )
The Latest: Juncker tells May no renegotiation on Brexit
European Commission President Jean-Claude Juncker has told British Prime Minister Theresa May in talks in Brussels that her 27 EU partner countries will not renegotiate their Brexit divorce agreement
7:10AM ( 24 minutes ago )
EU slashes its forecasts for economic growth
European Union officials have slashed their growth forecast for the 19 countries that use the euro, saying even the reduced forecast was vulnerable to "large uncertainty" from slowing growth in China and weakening global trade
7:06AM ( 28 minutes ago )
Russian official: Another nuclear pact with US in trouble
A senior Russian diplomat says that another U.S.-Russian nuclear pact is in danger following the U.S. move to withdraw from a Cold War-era arms control treaty
6:55AM ( 39 minutes ago )
Democrats speechless as scandal engulfs Virginia's leaders
Democrats in Virginia are nearly speechless as the state's top three elected officials find themselves engulfed in scandal
6:53AM ( 41 minutes ago )