Twitter Stays on an Upswing, With Second Straight Quarter of Profit
When Twitter posted its first quarterly profit a few months ago, many wondered if the result was a one-off or a repeatable feat.
The social media company answered on Wednesday with its latest quarterly earnings that showed it was still on an upswing.
For the first quarter, Twitter reported a profit of $61 million and said revenue rose 21 percent to $665 million. User numbers rose slightly to 336 million per month.
The results surpassed the expectations of financial analysts, and show that even as regulators worldwide turn a more skeptical eye toward social media companies like Twitter and Facebook over privacy concerns and for not doing enough to prevent the spread of misinformation and hate speech, their core advertising-driven businesses are in good shape.
Twitter’s stock has more than doubled in value in the past 12 months as the company has undergone a perception shift on Wall Street. While Twitter once struggled..