Twitter has swung to profitability for the first time, after the social network unveiled a series of changes designed to help it better compete for advertising, making shares in the company surge. Ad sales, which comprise the bulk of Twitter’s revenues, grew 1 per cent year on year to $644 million. Twitter also beat Wall Street estimates on revenue growth of 2 per cent to $731.6 million, when most analysts had expected a decline. Twitter has struggled to build its userbase and match the advertising revenues of its larger tech rivals Facebook and Google – which together account for the lion’s share of online advertising revenue. “User numbers are distorted by bots anyway so I’m more interested in revenue growth,” he said.

Source: The Irish Times February 08, 2018 13:52 UTC