Twitter added 4 million new active users last quarter according to Twitter’s earnings report. The company now has 330 million monthly users, up from 326million last quarter and 317 million this time last year.
The report further reveals that the social media network posted a revenue of $590 million, down from $616 million this time last year, a four percent drop.
The interesting news here is that the company’s losses narrowed, with a net loss of $21 million this quarter, down from $103 million this time last year. And going forward, Twitter says it expects to be profitable for the first time since it went public during the fourth quarter of 2017.
Furthermore, Twitter’s daily active user growth was up 14 percent over last year. This is the fourth consecutive quarter of double-digit growth, though Twitter doesn’t share its actual DAU number.
In a statement, Twitter CEO Jack Dorsey, “This quarter we made progress in three key areas of our business: we grew our audience and engagement, made progress on a return to revenue growth, and achieved record profitability. We’re proud that the improvements we’re making to the product continue to bring people back to Twitter on a daily basis. It’s our job to help people stay informed about what’s happening in the world and what people are talking about, and we’re focused on making our service faster, easier to use, and more relevant to more people every day.”
The social-media company’s shares jumped nearly 14% in early trading after it released the report.
