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Twitter Tops Q1 Financial Targets, Daily Users Up 33% Amid Coronavirus Pandemic
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variety.comBy Todd Spangler NY Digital Editor Twitter’s sales grew 3% in the first quarter of 2020 — hampered by the coronavirus outbreak — while the company netted a whopping 14 million daily active users, up 33% year over year.
Revenue was $808 million in Q1, up 3% year over year, “reflecting a strong start to the quarter that was impacted by widespread economic disruption related to COVID-19 in March,” CFO Ned Segal said in prepared comments.
Twitter posted a Q1 net loss of $8 million; adjusted net income was $66 million (or 11 cents per share). Analysts expected Twitter to report $776 million in revenue and adjusted EPS of 10 cents.
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