Twitter has wanted to be profitable since 2013, and they planned on being there in 2017. That’s not an unreasonable goal for a company whose sole purpose is to be profitable. Well, it’s 2018 and Twitter finally did it. Twitter closed out the year with a profit of $91.1M, a slight step up from the previous year that netted them a loss of $167.1M. You’ve got to start somewhere.
Shares of Twitter rose 12% on the news, the largest jump since 2015. Twitter has been a favorite medium of the quick-witted and easily distracted since its inception, but trouble monetizing ads (unless they’re coming from Russia) has made it tough for the platform to make money.
Twitter missed predictions regarding user growth by about 2M, but their user base still climbed 4% from last year, reaching 330M.
Water Cooler Talking Point: “For the widespread traction that Twitter has gained in the sports, news and pop culture spheres of influence, it’s next level ball-dropping when you can’t manage to make any money. Good for Twitter for finally turning a profit.”