First annual profit for Twitter in it’s 12-year history.
The San Francisco-based social network Twitter has recorded it's first annual profit in 2018 in the company’s 12-year history.
Twitter has been cutting costs since last year after it had faced loses of about $ 167m. However, it has made a profit of $91m (£65m) in the fourth quarter.
Despite Twitter turning its first annual profit in 2018, the company has a problem it doesn't want to talk about. And the problem is about the declining number of users.
The company said Thursday that it had 321 million monthly active users in the final three months of last year which is down five million from the prior quarter and nine million from the same period a year ago. This is the third time that the company is facing this user decline and will be stopping disclosing the numbers completely.
Even as Twitter's overall user base declines, the company is finding ways to make more money out of it and plans to continue on the track of having profitable upcoming quarters.