Twitter revenues jump 18% backed by user growth

Twitter is showing positive signs of growth as it revealed its latest earnings on Tuesday.

Monthly active users on the social media platform increased to 330 million during Q1 2019, up from 321 million in Q4 2018.

However, Twitter announced it was changing its benchmarks from monthly to daily active users in an effort to be more comparable to other networks.

As such, 134 million users logged onto Twitter each day during Q1 compared to 126 million in the previous quarter.

At the same time, revenues rose 18% year-on-year to $787 million, beating expectations.

The increase is likely bolstered by the company’s efforts to tackle hate speech and improve the user experience.

“The first quarter is always a big one for Twitter given its role as the default second-screen for tentpole events like the Super Bowl and Oscars,” said Aaron Goldman, CMO of 4C Insights.

“The fact that performance was so strong shows that it also benefited from outsized budget allocation in the annual planning cycle. In particular, we’re seeing great success with video on Twitter and our advertisers are adopting these formats as a core part of their cross-channel mix. For Q1 2019, we saw double-digit increases year-over-year on Twitter video ad budgets.”

Although the latest quarter shows that Twitter is heading in the right direction, it remains to be seen if the social network can make a full comeback.

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