{"id":17155,"date":"2020-04-30T14:41:55","date_gmt":"2020-04-30T14:41:55","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=279429"},"modified":"2020-04-30T14:41:55","modified_gmt":"2020-04-30T14:41:55","slug":"costs-covid-19-contribute-to-twitter-loss-in-q1","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2020\/04\/30\/costs-covid-19-contribute-to-twitter-loss-in-q1\/","title":{"rendered":"Costs, Covid-19 contribute to Twitter loss in Q1"},"content":{"rendered":"

<\/p>\n

\tTwitter slipped into the red during Q1, as higher costs offset user growth which contributed to an overall increase in revenue.<\/p>\n

In a statement, the company highlighted a 24 per cent year-on-year increase in the number of monetisable daily active users, up to 166 million by the end-March compared with 134 million in Q1 2019.<\/p>\n

Referring to the Covid-19 (coronavirus) outbreak, CEO Jack Dorsey said in \u201cthis difficult time Twitter\u2019s purpose is proving more vital than ever\u201d by keeping people informed and connected.<\/p>\n

Going forward, he outlined retaining new customers would be a priority for the social media company.<\/p>\n

Finances
\nA net loss of of $8.4 million in the opening quarter was Twitter’s first since Q3 2017: in Q1 2019 it generated a profit of $190.8 million.<\/p>\n

Twitter noted an 18 per cent rise in costs and expenses to $815.1 million, and a \u201crapid change in advertising behaviour\u201d, which impacted the metric during March. However, across the quarter, ad revenue increased from $679.5 million to $682.2 million.<\/p>\n

Overall revenue was up 2.6 per cent to $807.6 million.<\/p>\n

Ned Segal, Twitter\u2019s CFO, noted the current environment generated \u201ceven more urgency around delivering more direct response ad formats\u201d.<\/p>\n

But it declined to offer guidance for the current quarter, citing uncertain market conditions due to the pandemic.<\/p>\n

The Q1 loss could increase pressure on Dorsey, who recently faced questions regarding his leadership, which reportedly included a call from activist investor Elliott Management for the CEO to be removed [1] as part of a broader shake-up of the business.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/twitter-chief-targeted-by-activist-investor\/<\/p>\n\n

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Twitter slipped into the red during Q1, as higher costs offset user growth which contributed …<\/p>\n

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