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4/29, 10:07 PM (Source: TeleTrader)
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Twitter's revenue up 28% to $1.04B in Q1

Twitter revealed its financial results for the first quarter of 2021 on Thursday, marking a 28% jump in revenue to $1.04 billion, compared to the same three-month period of the year before. The total number of monetizable users grew by 7 million since the last earnings report of the fourth quarter to 199 million accounts, which fell a million shy of analysts' estimates of 200 million users.

Meanwhile, the diluted losses per share were 12.5% down to $0.08 year on year. The net income declined by $7.4 million to a total of $52.2 million, which is a 14% drop from the comparable period of last year.

"We made significant progress on our brand and direct response products, with updated ad formats, improved measurement, and new brand safety controls, contributing to 32% year-over-year growth in ad revenue in Q1. [...] In Q1, we launched more than 700 new international Topics and deepened coverage in popular English categories like Food, Science, and Entertainment, to provide a more tailored experience," the official release said.

Following the earnings release, Twitter stocks fell by 9% in after-hours trading to sell for $59.34 per share at 4:32 pm ET.

Breaking the News / LH