Twitter reported first time profit

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(Facebook has 2.13 billion). Twitter also conducted a mass purge of fake accounts. The U.S. users are much more valuable than those in other countries. Those 68 million users accounted for more than half of Twitter’s advertising revenue last quarter.

Twitter-net-income

Achieving profitability was one of the company’s main goals in 2017, and one of the big reasons it laid off 9 percent of its workforce in late 2016 and then sold off its developer business and shut down its video app Vine. I’m proud of the steady progress we made in 2017, and confident in our path ahead,” Jack Dorsey, the CEO of Twitter, said in a statement. Even before this report, the company’s stock price had been rising. It’s up about 44% on the year to $27 a share, rising above its IPO price for the first time since late 2015. In pre-market trading, the company’s stock jumped to over $32 a share on the profit news.

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