Tuesday, 23 April, 2019

Twitter posts bigger 4Q profit, monthly user base slips

Monthly active users on Twitter fell to its lowest in two years Monthly active users on Twitter fell to its lowest in two years
Priscilla Morrison | 10 February, 2019, 00:10

Twitter also reported monthly active users (MAU) at 321 million during the fourth quarter of 2018, which is down five million from the MAUs reported during the third quarter of 2018, and almost 10 million less than the 330 million MAUs on the app in the last quarter of 2017. Revenues of $909 million increased 26% at constant currency (cc) from the year-ago quarter and comfortably surpassed the consensus mark of $869 million.

Twitter reported a total of 321 million monthly users at the end of past year, which means that the microblogging service lost a whopping 5 million users in the last quarter.

"Our mDAU are not comparable to current disclosures from other companies, many of whom share a more expansive metric that includes people who are not seeing ad", Twitter said.

Revenue from data licensing and other non-advertising businesses rose 35 percent from a year earlier to $117 million.

Shares skidded 9.8 percent to close at 30.80 USA dollars following Twitter's fourth quarter update, which showed a consistent profit trend despite a shrinking number of users. While that would be up from $665 million a year earlier, the range's midpoint of $745 million sits below the $764.93 million analysts had pencilled, according to Refinitiv.

The social network said 126 million people logged in once a day and saw adverts in the final three months of 2018.

More news: Apex Legends crossed 1 million concurrent players in under 72 hours

The company in 2018 marked its first full year of profitability under generally accepted accounted principles, according to Bloomberg. Shares fell almost 7 per cent after the results were announced.

"2018 is proof that our long-term strategy is working", chief executive Jack Dorsey said in a statement.

Krichefski said: "What the results ultimately show is that 2019 is set to be a crucial year for Twitter, and if it can deliver the innovation, safety and value that it has promised both users and advertisers, we can nearly certainly expect to see more positive results from the company". That's mostly because of the company's disappointing guidance and the fact that it announced it will stop reporting monthly active users.

Shares moved lower in the premarket as the company's first-quarter revenue outlook is lower than Wall Street forecasts. Analysts are expecting about $765m, on average.

Operating expenses are expected to surge about 20 percent year-on-year in 2019, the company said, due to efforts to improve the health of its platform, exceeding analysts' average estimate of 12 percent.

Twitter projected capital expenditures from $550 million to $600 million, which was far higher than analysts' average estimate of $415 million for the year. It makes about 90 per cent of its money from digital advertising. The shares closed down $3.36 to $30.80 in regular trading, and dropped an additional 4 cents a share in after hours trading. The company also announced it earned $3 billion in revenue previous year, a 25 percent increase from 2017.

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