Once considered the next best thing in the social networking sphere after Facebook, Twitter has ceased to excite investors and users as it once used to do. However, according to the latest development, things might finally be taking a turn for the better as the network looks forward to becoming profitable for the first time next quarter.
For the last quarter, Twitter managed to attain a revenue of $590 million, which narrowly beat the forecasted figure of $587 million, even if it was down 4 percent from a year back due to a number of factors.
Advertising revenue was down by 8%, though elsewhere in the licensing and other areas, revenues reached $87 million up 22% from a year ago. The total advertising revenue for the sales is said to reach $1.21 billion this year.
The enterprise sector also signed a number of deals, the network reported. That, along with data services could contribute to a major chunk of the network’s profit in the future.
The active consumer base of the network increased by 4 million compared to the last quarter, thanks to a focus on push notifications. It now stands at a total of 330 million monthly active users.
Revealing Active User Count For The First Time
Twitter has never revealed the daily active user count for the network to date. On the news of the company’s turn of fortunes, the share price also rebounded by 18%, to reach north of $20.
Twitter has never actually managed to report a profit based on GAAP accounting principles, ever since its troubled assignment as a public company back in 2013, though it claims that will change in the upcoming few quarters.
The social network’s renewed approach for tackling abuse has also helped polish the platform a bit more. Twitter is finally shaping up to be the social network it aspired to be.