It’s been a week of revenue announcements from all the top social and messaging platforms and Twitter is not one to be missed. And it’s been a great quarter for the micro-blogging platform indeed.
The company posted Q4 2019 revenues of more than $1 billion beating analyst expectations.
Net income for the quarter was $119 million and total revenues for 2019 reached $3.46 billion, representing a 14% increase year-on-year.
The results are bolstered by strong user growth with daily active user growth up 21% to 152 million.
“Our work to increase relevance and ease of use delivered 21 per cent mDAU growth in Q4, with more than half of the 26m mDAU added in 2019 directly driven by product improvements,” said Jack Dorsey, CEO of Twitter. “Entering 2020, we are building on our momentum – learning faster, prioritizing better, shipping more and hiring remarkable talent. All of which put us in a stronger position as we address the challenges and opportunities ahead.”
Aaron Goldman, CMO, at marketing technology company 4C Insights, commented:
“Despite the company’s shortfall on earnings, Twitter’s 4th quarter revenue of $1 billion beat expectations and showed that the platform has become a staple of the brand marketing playbook. In Q4 2019 we saw advertisers invest heavily in campaigns on Twitter and total spend increased more than 70% year-on-year. The festive season played its part, where brands in the retail, telecommunications, and entertainment sector led the pack.”
“With high hopes across the UK for the England football team in the Euros and the Summer Olympics looming, Twitter will remain top of mind for consumers and brands alike. And unlike the open web, which relies on banners and cookies, Twitter is a closed ecosystem with native ad formats and opt-in consent. The combination of personalization and privacy presents a powerful palette for brands to connect with engaged audiences and drive performance.”