Twitter announces its revenue for the fourth quarter of 2018 that has managed to hit $909 million giving it a 24 per cent year on year growth. Twitter went on to beat the market estimate that was projected at $868 million.
In 2018, the revenue rose to 25 per cent year on year to exceed $3 billion while the net income was $1.2 billion in comparison to the net loss of $108 million of the previous year.
The fourth quarter net income of Twitter was $255 million compared to $91 million in the same period to its previous year, which represents the net margin to 40 per cent.
The total revenue from the US in the fourth quarter was $506 million that went up 24 per cent while the total revenue from other countries was $403 million, which was 24 per cent.
Japan was listed as the companies second-largest market that contributed to $138 million or 30 per cent that accounts for 15 per cent of its revenue for the quarter.
Twitter went on to say that its active users in the fourth quarter of 2018 went up to 9 per cent year on year with double-digit growth in five of its top 10 global markets, while the fourth quarter daily active user was 126 million compared to 124 million in the previous quarter.
Getting on with the monthly active users, Twitter had 321 million in the fourth quarter which was a slight fall from 326 million compared to the previous quarter.
According to the company, the fourth quarter expenses went up by 13 per cent year on year that went on to hit $702 million, which resulted in an operating income of $207 million.
Twitter expects the total revenue to stand between $715 million for the first quarter of 2019 with an operating income to be between $5 million and $35 million.
The company said that the cash operating expenses would increase to about 20 per cent year-on-year in 2019 to support its existing priorities of sales, health, conversation, revenue products and more.
(With IANS inputs)