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| Twitter attracted a lot of new users in 2020 |
Twitter announced its results for the first quarter of 2021, highlighting the scale of growth during the ongoing pandemic.
In the first quarter of 2021, the average number of daily active Twitter users was 199 million, an increase of nearly 20% from 166 million the previous year.
In the past year, Twitter has grown faster outside of the United States. The number of active daily international users increased from 133 million in the first quarter of 2020 to 162 million in the fourth quarter, an increase of 22%.
When there is a lot of polarizing things for people to discuss, business appears to thrive.
The increase in the number of users corresponds to the increase in sales. In the first quarter, total revenue was $ 1.04 billion, an increase of 28% year-on-year, and net income was $ 68 million.
The company has warned that the number of users will grow faster during 2020, which means that the number of users may not grow at nearly the same rate in 2021.
In her message to shareholders, she said: The significant growth associated with the pandemic influenza in 2020 could lead to keeping the user growth rate down two-digits for the remainder of 2021, in addition to the lowest growth rate in 2016. The next quarter is expected. .
Twitter saw sales growth due to improved advertising products that exceeded Wall Street goals and joined other major digital advertising companies such as Facebook and Alphabet that have thrived during the coronavirus pandemic.
Twitter ad revenue grew 32% year-over-year to $ 899 million, and total ad engagement increased 11% over the same period.
After Twitter released its first-quarter earnings report, the share price fell by more than 11%, beating user growth expectations. Revenue forecast for the second quarter was lower than expected.
Her account was suspended after the January 6 incident at the U.S. Capitol Building, and this quarter was mostly Twitter's first term without former President Donald Trump.
The company said costs and expenses are rising, and it is too early to understand the full implications of Apple's iOS 14.5 privacy policy change and integration with Apple's new ad measurement tool. Apple has increased the number of iOS devices.
In February of this year, the company announced bold goals to expand its user base, accelerate the introduction of new user features, and double sales by 2023.
The company has pledged to double its annual revenue from $ 3.7 billion in 2020 from $ 3.7 billion in 2020 to $ 7.5 billion in 2023. The company recently acquired its Revue Breaker newsletter and podcast company, and now it's time to bring many new products to the market.
The company posted faint tweets (called Fleets) last year, similar to Snapchat's temporary feature, and is now testing the Spaces feature to compete with the club's audio apps.
It also introduces new creative ways for developers to make money on the site, from franchises to superfans where fans can pay for exclusive content.