Twitter Q1: sales up 3% to $808M as it swigs to a loss on COVID-19, mDAUS hit record 166M
https://techcrunch.com/2020/04/30/twitter-q1-sales-up-3-to-808m-as-it-swigs-to-a-loss-on-covid-19-mdaus-hit-record-166m/
Despite traffic for many online properties being at an all-time high, advertising has fallen off a cliff because of the downturn in consumer activity outside the home and the wider economic pressures resulting from the COVID-19 pandemic. And today, Twitter reported quarterly earnings that bore this trend out.
The ad-based social networking and media company said that in Q1 it made $808 million in revenues, actually up 3% on a year ago, with monetizable daily active users (Twitter’s own metric for measuring its audience) grew 24% to 166 million, an all-time high, adding 14 million average mDAUs since Q4 (152 million) and 32 million since Q1 of last year (134 million). But, operating income for the quarter swung to a loss of $7 million, working out to a net margin of -1% and diluted EPS of -$0.01.