Twitter’s 5 million new users aren’t enough
First the good news, Twitter added an additional five million monthly active users during the first quarter of 2016. The company can now boast 310 subscribers. That’s a year-over-year and quarterly increase. The bad news is that the company is still not profitable with a loss of $79 million.
The actual financials are a mixed bad. It made less revenue ($594.5 million) this quarter than expected. In fact,it made more last quarter pulling in $710 million. Twitter noted that its revenue was on the low-end of expectations. But the company is closing in on profitability. During last year’s first quarter it only made $436 million in revenue and lost $162 million.
While the money number are bad, the monthly active users increase should make Twitter at least a bit happy. Last quarter, the company’s user base declined by 2 million.
Developing
Source: Twitter
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