Twitter has announced financial results for its fourth quarter and fiscal year 2019.
The social media platform reported 2019 revenue was $3.46 billion (€3.16bn), an increase of 14 per cent year-over-year. 2019 net income was $1.47 billion.
Q4 revenue totaled $1.01 billion, an increase of 11 per cent year-on-year – and the first time the company has topped $1 billion in revenue in a single quarter. Advertising revenue totaled $885 million, an increase of 12 per cent.
Average monetisable daily active users (mDAU) were 152 million for Q4, compared to 126 million in the same period last year and compared to 145 million in Q3,
“2019 was a great year for Twitter. Our work to increase relevance and ease of use delivered 21 per cent mDAU growth in Q4, with more than half of the 26 million mDAU added in 2019 directly driven by product improvements,” said Jack Dorsey, Twitter’s CEO. “Entering 2020, we are building on our momentum –learning faster, prioritizing better, shipping more and hiring remarkable talent. All of which put us in a stronger position as we address the challenges and opportunities ahead.”
“We reached a new milestone in Q4 with quarterly revenue in excess of $1 billion, reflecting steady progress on revenue product and solid performance across most major geographies, with particular strength in US advertising,” added Ned Segal, Twitter’s CFO. “We continue to see tremendous opportunity to get the whole world to use Twitter and provide a more personalised experience across both organic and promoted content, delivering increasing value for both consumers and advertisers.”
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