\n
\nShares in Twitter jumped Thursday after the social media company said its revenue growth and user numbers exceeded forecasts in the latest quarter, though profit fell.<\/p>\n
\nThe San Francisco-based tech company said that fourth-quarter net earnings fell to $119 million, or 15 cents per share. That’s down from $255 million, or 33 cents, in the same period a year earlier.<\/p>\n
\nThe short messaging service posted revenue of $1.01 billion in the period, 11% higher than a year ago, and the first time that it surpassed the $1 billion mark.<\/p>\n
\nThe company reached a \u201cnew milestone\u201d for revenue in the quarter, Chief Financial Officer Ned Segal said, \u201creflecting steady progress on revenue product and solid performance across most major geographies, with particular strength in U.S. advertising.”<\/p>\n
\nThe company had 152 million daily users in the latest quarter, up from 145 million in the previous quarter.<\/p>\n
\nWhile the net income figure was below analyst forecasts for $231 million, other figures cheered investors, sending shares up a sharp 16% in early trading.<\/p>\n
\nThe sales figure was on the upper end of market expectations, according to data provider FactSet. And the number of active daily users was above the forecast for 147 million.<\/p>\n
\nLast year, Twitter started disclosing its daily user base – that is, users who log into the site at least once a day and see ads on the platform. The daily metric has replaced its monthly user count, which Twitter said it will no longer disclose. Other companies, such as Facebook, give both daily and monthly counts.<\/p>\n
\nTwitter executives said the company is making it a priority to clean up its platform. <\/p>\n
\n\u201cWe’ll increase healthy public conversation,\u201d CEO Jack Dorsey said on a call with analysts. \u201cMisleading information is probably the biggest challenge facing us and our industry. This will be a key focus for us.\u201d<\/p>\n
\nTech companies have been stepping up their efforts to remove misinformation, abuse, hate speech and spam. In Twitter’s latest move, announced earlier this week, the company said it will start labeling or even taking down doctored or manipulated photos, audio and videos designed to mislead people.<\/p>\n
\nFor the year as a whole, Twitter posted net income of $1.47 billion on revenue of $3.46 billion. For the current quarter, Twitter forecasts revenue to come in between $825 million and $885 million.<\/p>\n
\nDorsey said he wanted Twitter’s staff to be less focused on San Francisco, in an indication that he thinks the company should look more to fast-growing international markets.<\/p>\n
\n\u201cOur concentration in San Francisco is not serving us any longer,\u201d Dorsey said. \u201cWe’ll strive to be a far more distributed workforce which will help us improve our execution.\u201d <\/p>\n
\n\u2014\u2014\u2014<\/p>\n
\nFor all of AP\u2019s tech coverage, visit: https:\/\/apnews.com\/apf-technology <\/p>\n<\/div>\n
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