outbrain
Close  

Twitter swings to loss despite user surge in pandemic

/ 07:36 PM April 30, 2020

WASHINGTON — Twitter swung to a loss in the past quarter as the global pandemic hit advertising revenue, even as the social platform saw a surge in new users.

In its quarterly update Thursday, Twitter posted an $8 million loss while revenues edged up three percent to $808 million and its user base increased 24 percent.

ADVERTISEMENT

Chief executive Jack Dorsey said the platform was working to be a useful resource for people during the global lockdowns.

“In this difficult time, Twitter’s purpose is proving more vital than ever,” he said.

FEATURED STORIES

“We are helping the world stay informed, and providing a unique way for people to come together to help or simply entertain and remind one another of our connections.”

The results appeared to ease concerns of deeper problems for the tech company, and Twitter shares jumped more than nine percent in pre-market trade.

Twitter said ad revenue was essentially flat in the quarter, with the pandemic hitting economic conditions in March.

For more news about the novel coronavirus click here.
What you need to know about Coronavirus.
For more information on COVID-19, call the DOH Hotline: (02) 86517800 local 1149/1150.

The Inquirer Foundation supports our healthcare frontliners and is still accepting cash donations to be deposited at Banco de Oro (BDO) current account #007960018860 or donate through PayMaya using this link .

TOPICS: 2019-nCoV, Business, China, coronavirus, COVID-19, Earnings, Health, International news, IT, Lifestyle, losses, nCoV, NCOV update, News, novel coronavirus, outbreak, pandemic, Twitter, Virus, World, World News, Wuhan
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.