Twitter said advertising revenue is growing as companies are now spending more on digital compared to television. Revenues rose 21 percent year-on-year to Dollars 665 million, with the company saying sales increased across all products and geographies.
Twitter experienced healthy growth during the last 12 months, largely driven by the maturation of its video ad suite, with the company posting Q1 revenues of $665m, up 21% year-over-year.
On a conference call with analysts Wednesday, Twitter CEO Jack Dorsey said he expects Twitter to be profitable, but cautioned that it was still working through a business recovery it started previous year. Alos, the number of monthly active users reached 330 million, below expectations of 332.5 million by the end of December 2017.
Commenting on the results, Yuval Ben-Itzhak, chief executive of Socialbakers, also said: "Twitter's results show that it is still an attractive platform for advertisers and for users".
It added six million users in the first quarter, taking its active user base to 336 million.
On a conference call with analysts Wednesday, CEO Jack Dorsey fielded multiple questions about the impact that the global data privacy awakening could have on Twitter's business.
Twitter CFO Ned Segal said Twitter has had strong interest in in-stream video ads as well as incremental revenue growth in its new ad formats Video Website Cards and Video App Cards.More news: Saudi Arabia issues drone restrictions following palace incident
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After some solid-looking premarket gains on earnings, Twitter (NYSE:TWTR) has taken a fall (now down 6.9% in the regular session) after providing softer guidance and warning for the year ahead on its earnings call. Shares in Twitter were down $0.72 for the day closing at $29.75.
Facebook, which was set to report earnings later Wednesday, has been under fire over the hijacking of private data on some 87 million users by a consulting firm linked to Donald Trump's 2016 campaign.
Twitter said it ended the quarter with a profit of $61 million, or 8 cents a share, on revenue of $664.9 million.
DAU grew 10% year-over-year, marking another quarter of double-digit year-over-year growth. Twitter removed more than 142,000 apps, responsible for more than 130 million tweets, according to the company's letter to investors.
"We saw growth across all regions with particular strength in the Asia-Pacific region", Twitter said, adding that Japan continued to be its second-largest market for sales.
Dorsey talked about Twitter's Fox Sports collaboration on the 2018 FIFA World Cup tournament in June, and how Twitter users will be able to see - and share - every single goal. It also promises to deliver more controls over their personal data.