Twitter made a quarterly profit of $91m in the last quarter of 2017, compared with a $167m loss a year earlier.
"Q4 was a strong finish to the year", Jack Dorsey, Twitter CEO and co-founder, said. Thank you team! And thanks to all of our shareholders for the patience and support. Revenue from outside the U.S. rose 17%, making up for an 8% decline in domestic sales. Revenue from Japan rose 34 percent to US$106 million.
Twitter has been around for more than a decade, and in that decade, it's never made a profit. That raised clickthrough rates, or the ratio of users who click on a specific ad to the number that view it. It's up 4% year on year but sees no real change from the previous quarter.
Expanding the length of a tweet not only improved engagement among users, but also gave them more room to express their thoughts, Dorsey said. And to be fair, this is part of a trend: Last quarter, Twitter lost far less money than it did a year ago at the same time, with $21 million in red ink compared to $103 million lost in the third quarter of 2016.
Average daily active users (DAUs) grew 12 per cent YoY, marking the fifth consecutive quarter of double-digit growth.
Viacom revenue drops 7.6 pct
Barclays set a $32.00 price objective on Viacom and gave the stock a "hold" rating in a report on Friday, October 20th. The owner of Nickelodeon, MTV, Comedy Central and Paramount Pictures posted revenue of $3.07 billion in the period.
Twitter's quarterly profit and rising revenue has reignited speculation among some analysts that a larger company could try to buy it. The shares of Twitter went up to 12 percent close to $30.18 and attained their highest level in the span of a year.
Twitter also struck deals with media companies for live news and entertainment shows. The alleged abuse of Twitter accounts by Russian Federation to sway the 2016 US presidential election-when Donald Trump stormed the White House-did not help matters.
But analysts were split on what lies ahead for the company.
For the first quarter of 2018, Twitter said it expected operating earnings in the range of $185m to $205m. Twitter attributed its lack of user growth to Safari's third-party app integration changes, seasonality and its efforts to crack down on fake accounts and spam.