Twitter has passed US$1 billion in quarterly revenue, a new milestone for the business.
In its fourth quarter report for 2019, the social media company posted US$1.01 billion in revenue, up by 11% year-on-year. Advertising revenue was US$885 million, up by 12%.
The company also attracted more users, with an average monetisable daily active user base of 152 million for the quarter, compared to 126 million the same period the year before, and 145 million in the previous quarter.
Twitter says the growth in users was driven by new product innovation during 2019.
The decision by CEO Jack Dorsey to ban political advertising last year was also widely welcomed, as other platforms were criticised for failing to better regulate political advertising ahead of the US presidential election period.
"Twitter’s strong performance in revenue shows advertisers are confident in the platform’s reach despite some of the product issues earlier in the year,” says eMarkter analyst Nazmul Islam.
“A reason for the confidence is probably continued growth of monetisable daily active users, which spiked up again in Q4.
“Their moves to ban political ads and new manipulated media policy, which identifies fabricated/altered media, should resonate positively with users and continue the growth in engagement in the next quarter."
Twitter’s shares rose 15% after the release of the results.
All the numbers:
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