August 9, 2020

Twitter records profits for the first time in 2018 and earns 1,062 billion euros | Economy



The company Twitter, owner of the social network of the same name, registered a net profit of 1,062 million euros in 2018. The company thus achieves the first annual benefit of its history. The firm has had benefits since the fourth quarter of 2017, but 2018 is the first annual year that closes in "black numbers", compared to the losses of 95.3 million from the previous year. The billing grew by 24.5% and reached 2,683 million, of which 2,308 million were entered thanks to advertising and the remaining 374 million came from the sale of personal data of users.

Between October and December, Twitter obtained a net profit of 225 million euros, after an increase in turnover of 24.2%, to 801 million euros. "2018 was proof that our long-term growth strategy is working," said Twitter CEO Jack Dorsey. "We started this year with the confidence that we will continue to deliver a solid performance by focusing on making Twitter a service that encourages more conversation," he added.

Despite the announcement of benefits, Twitter has plunged 10% in opening Wall Street because the company has predicted revenues below the estimates by analysts and the massive cancellation of false accounts that the company made between September and December.

"In 2019 we will be more proactive in reducing abuses and their effects on Twitter with the aim of reducing the burden of victims of harassment and, when possible, take action before we become aware of abuses" , has assured the signing in a letter to the shareholders, adding that their priority will be to improve the "quality" of the public debate in the social network.

On the other hand, the firm has decided to incorporate a new metric: daily monetizable users. In this way, Twitter will stop counting all those people who connect to the social network from a platform that is not able to serve ads. "Our goal is not to publish as many active users as we can," the company stressed.

Thus, the social network closed 2018 with 126 million daily monetizable users, 9% more than at the end of the previous year. Of that amount, 27 million were located in the United States and 99 million in the rest of the world.

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