Twitter posts second consecutive profit and adds 6 million users

(c) Sky News 2018: <a href="http://news.sky.com/story/twitter-posts-second-consecutive-profit-and-adds-6-million-users-11346315">Twitter posts second consecutive profit and adds 6 million users</a>
 

Twitter (Frankfurt: A1W6XZ - news) posted its second consecutive quarterly profit as it added more users and reaped the benefit of streaming video. 

The San Francisco-based social-media network beat analysts' expectations of a small loss with a profit of $61m (£44m) in the first three months of this year.

In the same period a year earlier, Twitter made a loss of $61.6m. It made its first profit in the fourth-quarter of 2017 after 12 years of losses.

First (Other OTC: FSTC - news) -quarter revenue rose 21% to $664.9m (£476m), beating analysts' expectations, and ad revenue also soared 21% to $575m (£412m), the company said.

It added six million users in the first quarter, taking its active user base to 336 million. Most of the new users came from outside of the US.

Despite high-profile users like the US President Donald Trump, Twitter has struggled to attract people.

It still lags behind Facebook (NasdaqGS: FB - news) and Google's YouTube for users, but it has been working on attempting to engage them with more video and sports highlights.

At the same time, it has been tackling hate speech, fake news and abusive behaviour on its network.

"We've begun sharing curated timelines of Tweets around breaking news events," the company said.

"Video remains an important component of the experience on Twitter, allowing people to post relevant live broadcasts or video clips.

"Our ability to detect malicious automation, spam, and fake accounts also improved significantly.

"Our systems continue to identify and challenge millions of suspicious accounts globally per week as a result of our sustained investments in improving information quality on Twitter."