Twitter Had A Fruitful Year With Record Revenues And Exponential Growth
Twitter has revealed this year’s revenue which seems to be the highest in the last few years.
According to the chief executive, the revenue of the last quarter is making 2020 “an extraordinary year” for this platform.
This social media platform has generated revenue that grew 28% compared to the previous year’s margin. It became $1.29bn (£930m) than the other year.
In January, this platform took the initiative to block or ban Donald Trump from the platform. The analysts assumed that this move could affect this year’s revenue.
However, the results came out to be different. Bossman Jack Dorsey said, “We’re a platform that is obviously much larger than any one topic or any one account.”
Breaking all the assumptions, Twitter’s fourth-quarter results have gone beyond the expectations of the analysts in the aspect of earnings and revenue. However, user growth has not increased drastically.
After the incident of Capitol Riot in Washington DC, this platform decided to suspend President Donald Trump’s account permanently.
It took a lot of courage for the removal of this avid Twitter user as it prompted a possibility of loss in revenue along with a decrease in popularity for this quarter.
The Chief executive of this platform, Jack Dorsey said that Twitter is for everyone around the world and 80% of its users are outside the United States.
The users can follow over 6,000 different topics that drive growth. Mr. Dorsey further added, “We have a global service. We are also not just dependent upon just news and politics being what drives Twitter.”
The total of ‘monetizable’ daily active users of Twitter has increased by five million from the third quarter to 192 million.
Compared to a year ago, this was up by 26% which fell below the analysts’ expectation of 193.5 million.
The company was expecting that its total cost and expenses would increase by 25% this year since they were planning to increase the headcount of employees by 20%.
2020 was quite a fruitful year for Twitter, with unexpected revenue and more than 5,500 employees.
