Twitter exceeds expectations in Q3 2017, adding 4m users, as losses narrow

Mandy Carr
October 28, 2017

Naturally, Twitter was more inclined to emphasize the gains posted in its latest quarter, which included a 14 per cent year-over-year increase in daily active users and a quarterly net loss of $21 million (all figures USD), a significant improvement over the company's $103 million quarterly loss during the same period last year. Twitter believes that the impact of Digits' userbase on their monthly active user counts in previous years was smaller, as Digit had fewer users at the time.

The San Francisco-based social media giant reported Q3 earnings per share (EPS) of $0.10, which was $0.04 better than the Wall Street consensus estimate of $0.06.

Twitter has stepped up efforts to boost its user base and engagement, notably with video partnerships, as part of its turnaround efforts.

Twitter on Thursday revealed that it accidentally overstated its monthly-user figures for last three years but is actually growing now as it had gained almost four million monthly members over the last three months.

Wall Street rejoiced at Twitter's performance-company stock was up almost 15 percent in morning trading.

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Thanks to cost-cutting across the business, Twitter said it could finally turn a bottom-line, unadjusted profit in the fourth quarter. But according to Twitter's story, if you made an app and used Twitter's Digits SDK over the past three years, the company might have counted your users as its own.

It now says the issue was first there in the fourth quarter of 2016, and has made adjustments for it and the following quarters.

Other telling statistics include a modest decline in revenue ($590 million) in comparison to the same point previous year ($616 million), roughly a four percent drop.

The earnings report also addressed Twitter's ongoing problems with harassment.

Google parent company Alphabet bought Digits and other developer tools from Twitter this summer, taking with it many of Twitter's nonexistent users. That will see the burgeoning company report a positive income for the first time, and may prove to investors and the wider world that Jack Dorsey's plan to revive Twitter is worth persisting with.

Other reports by Guamnewswatch

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