On Tuesday Twitter, Inc announced its first-quarter(Q1) revenue for the first three months of the year. The result was better-than-expected as it’s ad revenue up to 18% to $679 Million(£522m).
Twitter’s average monthly users drop by 2% to 330 million compared with the Q1 of 2018. Surprisingly, the user count fell by 9% year-on-year to 321 million in the Q4 of last year.
The social media titan has been focusing on removing thousands of dubious accounts and spam to improve the quality of its platform, which will no longer disclose MAUs(Monthly Active User) from next quarter. Twitter plans to provide the number of monetizable daily active users.
The company made up 86% of the total revenue of $787 million through the advertising that is up to 18% year-on-year with an increase in total ad engagements of 23%.
The first quarter of the year has been strongest in user growth because usage of the platform to “second screen” for major media events like Oscars and Super Bowl.
Aaron Goldman, CMO for the social advertising platform 4C stated
“The fact that [Twitter’s] performance was so strong shows that it also benefited from the outsized budget allocation in the annual planning cycle. In particular, we’re seeing great success with video on Twitter and our advertisers are adopting these formats as a core part of their cross-channel mix. For Q1 2019, we saw double-digit increases year-over-year on Twitter video ad budgets.”
Twitter’s data licensing and other revenue also increased to 20% to $107 million. Back in 2017, Twitter reported its profit for the final three months with a positive net income of $191 million.
Twitter CEO, Jack Dorsey in a statement