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Twitter shares open higher after reporting first ever profit

08 February 2018

One side goes up and, as if by design, the other side goes down. "We returned to revenue growth, achieved our goal of GAAP (generally accepted accounting principles) profitability, increased our shipping cadence, and reached five consecutive quarters of double digit DAU growth".

But are things actually looking up for Twitter?

If there's reason for optimism, it's that daily active user figures have increased by 12 percent year-on-year, so the people who use Twitter are using it more.

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The company posted a bottom-line profit in its fourth quarter, the first time the company had a profitable quarter.

Twitter said it earned 19 cents per share in the fourth quarter on revenue of $732 million, which came in ahead of the Street's expectations of 14 cents per share on revenue of $686 million.

However, there remain some issues with how Twitter makes its money. And the company's ad volume continues to seesaw with its ad pricing. The decrease is attributed to the shrinking number of active users and also to the hesitation of advertisers to place ads near where questionable content may exist.

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Twitter also noted that total ad engagements were up 75% year-over-year, while cost per engagement (CPE) was down 42%.

Twitter had forecast a quarterly profit for Q4 2017 as it cut down on expenses. The tech firm said it was cracking down on fake accounts and spam, which contributed to its lack of user growth. Balentine LLC raised its holdings in shares of Twitter by 86.6% in the third quarter.

Twitter has also struggled to attract many new users in recent years, and has reportedly contended with multiple stalled takeover bids, and several departures of high-ranking executives, including its longtime chief financial officer Anthony Noto last month. Its user base stood at 330 million, which is the same as Q3. Wedbush set a $16.00 target price on shares of Twitter and gave the company a hold rating in a report on Monday, October 23rd. If they can't tell us the numbers, why brag about growth?

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Twitter's fourth-quarter net income was $91.08 million or $0.12 per share, compared to net loss of $167.05 million or $0.23 per share in the year-ago period. That can be something as simple as automatically tweeting links to news articles - most of the Guardian's social media accounts are technically Twitter bots, for instance - to complex interactions like automatically generating Emoji-based art or automatically replying to climate change deniers with scientific evidence.

Twitter shares open higher after reporting first ever profit